The Indian cryptocurrency exchange WazirX is preparing to resume operations after a hack in July 2024. The implementation of the restructuring plan and compensation of client funds depends on the decision of the Singapore High Court.
FAQ: What’s the current update on the restart of WazirX operations?
A: We understand the eagerness around the platform restart and truly appreciate your continued patience. Since the beginning, we have communicated that the First Distribution and restart would occur within the… pic.twitter.com/VJtfX4EBLh
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) April 21, 2025
A verdict is expected on May 13.
The exchange has completed all preparatory stages. WazirX’s parent company, Singapore-registered Zettai, clarified that the next step will be a court hearing.
If the scheme is approved, the initial distribution of funds among clients and the platform’s relaunch will occur within 10 business days.
Joint efforts by authorities from the US, Japan, and South Korea revealed that the attack was linked to the North Korean hacker group Lazarus Group. Analysts at Elliptic concurred with this conclusion.
Earlier, $3 million in stablecoins related to the incident were tracked and frozen.
In January 2025, the court granted WazirX the right to organize a meeting with clients to discuss the debt restructuring scheme and compensation payments.