WazirX, a crypto exchange serving India but based in Singapore, is relocating to Panama due to local court rejection of its restructuring plan. The parent company, Zettai, will shift to Panama and undergo rebranding. Zettai has established a subsidiary, Zensui Corporation, in Panama to handle cryptocurrency services. This move follows Singapore's central bank deadline for crypto service providers to cease offering services to overseas markets. Despite legal challenges in India, WazirX plans to transfer operations to Zensui within a few days. The exchange will issue recovery tokens for post-hack compensation. WazirX also aims to repay victims of a $235 million hack linked to North Korea. The restructuring plan received approval from the majority of creditors. The exchange's recovery tokens will cover outstanding claims and account balances. Subscribe to the Markets Outlook newsletter for investment insights and trading strategies. Read more AI-generated news on: https://app.chaingpt.org/news