Overview

• On June 4, the Singapore High Court declined to approve WazirX’s court-supervised restructuring plan following a $234.9 million hack in July 2024.
• WazirX announced it will appeal the court’s decision in hopes of securing creditor-backed recovery measures.
• In March, Zettai Pte Ltd established Zensui Corporation in Panama to house the platform’s cryptocurrency services in response to Singapore’s incoming FSM Act.
• The transfer agreement with Zensui Corporation is expected to complete migration of crypto operations within two to three business days once executed.
• Since the breach, WazirX has recovered $3 million, won over 75 percent creditor support and projects users will recoup approximately 55–57 percent of their funds.