WazirX gets Singapore court approval to repay victims of $235M hack
WazirX’s restructuring plan, approved by the Singapore High Court, paves the way for restoring user funds stolen in a $235 million hack linked to North Korea’s Lazarus Group.
Indian cryptocurrency exchange WazirX has secured approval from the Singapore High Court for its restructuring plan, enabling the repayment of customer funds stolen in a massive cyberattack in July 2024.
On Jan. 23, the Singapore High Court approved WazirX’s plan under the Companies Act 1967, paving the way for the crypto exchange to recover from a $235 million cyberattack by North Korea’s Lazarus Group.
Filed by Zettai, WazirX’s parent company, the restructuring plan aims for creditor recovery and avoiding liquidation through a court-supervised process. WazirX estimates that users may recover 75% to 80% of their account balances through token distributions.
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Author: Mehab Qureshi
