Overview

• The approval reverses a September decision in which the court rejected an earlier proposal over fairness and feasibility concerns.
• WazirX lost about $230 million in a July 2024 cyberattack linked by the U.S. to North Korea’s Lazarus Group, leaving thousands locked out of funds.
• The exchange has not published an implementation timetable, though it previously said trading could restart within 10 business days once the scheme takes effect.
• Legal scrutiny continues in India as the Delhi High Court reviews WazirX’s historical ties with Binance.
• Creditors have backed the revised plan and are urging the formation of a Special Investigation Team to probe the 2024 breach.