The company remains focused on strengthening compliance, regaining market credibility, and supporting India’s crypto ecosystem as it navigates a post-hack recovery phase.
In a major development for India’s leading cryptocurrency exchange, WazirX, the Singapore High Court has officially approved its creditor-backed restructuring plan following one of the largest crypto hacks in history, valued at $234 million. Parent company Zettai Pte Ltd confirmed that the court sanctioned the revised restructuring scheme after a re-vote in August 2025, during which 95.7% of creditors, representing 94.6% in value, supported the plan.
The court’s approval now paves the way for WazirX to relaunch its trading platform within 10 business days once the scheme becomes legally effective. It will also enable the company to begin distributing recovered tokens to creditors.
Swiftest Crypto Restructuring After Major Hack
WazirX’s founder, Nischal Shetty, hailed the verdict as one of the fastest restructuring approvals in the global crypto industry, given the scale of the attack. “We remain committed to acting in the best interests of our creditors and community. Once the scheme is legally effective, we will resume platform operations within 10 business days,” said Shetty.
The Singapore High Court ruling brings relief to over 4.3 million WazirX users affected by the July 2024 hack, which wiped out nearly 45% of the platform’s total funds.
$234 Million Cyberattack Linked to North Korea’s Lazarus Group
In July 2024, WazirX suffered a massive cybersecurity breach that compromised user funds worth approximately $234 million. Investigations revealed that North Korea’s Lazarus Group was allegedly behind the crypto heist, which forced WazirX to suspend all withdrawals and freeze platform activity for months. The breach shook confidence in the Indian crypto ecosystem, prompting WazirX to overhaul its security infrastructure and strengthen user protection measures.
The Singapore High Court had initially rejected WazirX’s restructuring plea in July 2025, reportedly due to undisclosed details regarding its Panama-based subsidiary, Zensui Corporation, established in June 2025. However, following revisions and enhanced creditor transparency, the restructured plan gained overwhelming approval from the creditors’ committee and subsequently from the court.
Partnership with BitGO to Enhance Fund Security
As part of its rebuilding strategy, WazirX announced a partnership with global crypto custodian BitGO to ensure enhanced fund custody and security for users.
The move aims to restore investor confidence and reinforce WazirX’s position as a trusted crypto exchange in India’s rapidly evolving digital asset market. With court approval secured and a clear operational roadmap, WazirX plans to restart trading, redistribute tokens, and rebuild user trust.
