Summary of this article
Singapore court approves WazirX’s revised restructuring plan.
Platform to resume operations within ten business days.
Creditors to receive token distributions under approved scheme.
It has been more than a year since crypto exchange WazirX suffered one of the biggest cyber scams in crypto history. The restructuring scheme proposed by Zettai Pte Ltd, the parent company of WazirX has been sanctioned by Singapore High Court, bringing the platform closer to reopening and resuming operations.
The approval follows a re-vote in August 2025 in which 95.70 per cent of voting creditors, representing 94.60 per cent by value, backed the revised restructuring scheme. The sanction represents a significant role in WazirX’s recovery, coming after the platform lost nearly 45 per cent of its crypto assets valued at $234 million, in a cyberattack in July 2024.
Nischal Shetty, founder of WazirX said: “The sanction represents a key milestone in WazirX’s journey, since it marks one of the fastest restructurings in the global crypto industry, despite suffering one of the biggest cyberattacks in the history of this space. We remain fully focused on our mission towards acting in the best interests of our creditors. As soon as the scheme is legally effective based on today’s verdict, we will start platform operations within 10 business days. ”
According to the company, they will complete the necessary filings with the Accounting and Corporate Regulatory Authority (ACRA). Once the restructuring scheme becomes effective, the WazirX platform is expected to restart within 10 business days, Token distributions to creditors will also begin under the scheme.
This was the second round of voting for WazirX’s restructuring scheme. Following the significant crypto attack, WazirX's parent company, Zettai, offered a restructuring plan, which the Singapore High Court first rejected in June 2025. Later, the court reversed its June ruling, enabling Zettai to have a vote on the revised plan.
The revote took place from July 30 to August 6, 2025, with 149,559 scheme creditors participating, which holds approved claims worth approximately $206.90 million. Among these, 143,190 creditors, or 95.70 per cent by number and 94.60 per cent by claim value, voted in favour of the modified plan, indicating that the participants strongly supported it.
