Singapore court extends WazirX’s moratorium, fast tracks revote

WazirX lost nearly 45 percent of its crypto assets worth $234 million in a cyber attack back in July 2024.

Hacked crypto exchange WazirX got a sigh of relief on July 16, after the Singapore High Court extended its moratorium for two months effective from today. The court has also set aside its earlier ruling from June 4 to scrap the company’s restructuring scheme.

As things stand now, the users will be invited to re-vote on the amended scheme that was presented today at the court.

WazirX lost nearly 45 percent of its crypto assets worth $234 million in a cyber attack back in July 2024.

WazirX operates through two entities, a parent company – Zettai Pte in Singapore and Zanmai Labs in India.

“The Singapore High Court has set aside its 4th June 2025 order in SUM 940, and has allowed a revote to be conducted based on an amended scheme. Zettai’s moratorium has also been extended. This decision follows further arguments presented by Zettai,” WazirX posted on X.

It added, “Zettai is committed to completing the revote process as soon as possible. If the amended scheme is approved by the requisite majority of creditors and sanctioned by the court, it is contemplated that the WazirX platform will reopen, and Zanmai will be the entity facilitating distributions to creditors under the proposed scheme promptly. As we commence the revoting process, your vote will be instrumental in securing the approval of the scheme and moving forward with the First Distribution.”

The long-awaited restructuring plan’s approval was critical to allow rebalancing of tokens that would have enabled impacted users to recover up to 85 percent of the value of tokens lost in the initial phase.