Particle.news

Download on the App Store

WazirX Creditors Back Amended Restructuring Plan With 95.7% Support as Court Ruling Looms

Sanction by Singapore’s High Court would activate a user-withdrawal process handled by Zanmai Labs within days.

WazirX
Wazirx awaits court green light to restart platform after massive creditor approval
Image

Overview

  • The revote held July 30–August 6 delivered 95.7% approval, representing 94.6% by value of approved claims.
  • The amended scheme moves withdrawal responsibility to Indian entity Zanmai Labs from Singapore-based Zettai.
  • WazirX has filed for sanction with the Singapore court ahead of schedule, with the next hearing listed for August 26.
  • If approved, the exchange says trading and withdrawals would restart within 10 business days of the scheme taking effect.
  • The push follows a July 2024 hack that stole roughly $230–$235 million, attributed by the U.S. to Lazarus Group, as India’s Delhi High Court orders disclosure of the original Binance agreement and related filings.