Summary of this article
WazirX creditors overwhelmingly support the amended restructuring scheme.
The revote enabled creditors to reconsider and approve the improved plan.
Now awaiting Singapore High Court approval before fund distribution.
WazirX, the Indian cryptocurrency exchange that suffered a major hack last year resulting in losses of around $230 million, saw major support from its users in a recent revote on its restructuring plan under the parent company Zettai. The revote allows users to vote again on the improved scheme for boosting confidence in the exchange’s recovery efforts. The voting took place from July 30 to August 6, 2025.
A total of 149,559 Scheme Creditors participated in the recent WazirX's revote, holding approved claims of around $206.90 million. Of these, 143,190 creditors, representing 95.70 per cent by count and 94.60 per cent by value of claims, voted in favour of the amended scheme, showing strong support from the participating creditors.
According to WazirX, this support slightly exceeded that of the previous voting round. Recoveries under the amended scheme are planned to be distributed through Zanmai India, a reporting entity under the Financial Intelligence Unit of India.
Earlier in June this year, the Singapore High Court had declined to approve WazirX’s parent company, Zettai’s initial restructuring plan following a major crypto hack. Later, the court set aside its June ruling and permitted Zettai to conduct a revote on the amended scheme. The court also extended the existing moratorium to support the revote process, marking the second round of voting for creditors.
Nischal Shetty, founder of WazirX, said: “A second round of voting with such strong numbers reflects our fair and transparent approach to restructuring. Should the Singapore High Court sanction the Scheme, we are committed to restarting operations within 10 business days of the scheme taking effect.”
WazirX stated that Zettai will next submit the creditor-approved amended scheme to the Singapore High Court for approval. Once the scheme takes effect, the first distribution of crypto balances is expected to begin within 10 business days, providing creditors with quicker access to their funds.
