🔔 WazirX Gets Court Lifeline After $235M Hack
What happened?
WazirX’s $235M post-hack recovery plan was rejected by a Singapore court, but the court granted more time for the company to revise its arguments.
Key Points:
• ✅ 93% of creditors approved the plan.
• 🌍 WazirX plans to relocate to Panama via a new entity, Zensui Corp, to avoid stricter Singapore crypto rules.
• 💸 Affected users may receive “recovery tokens”, potentially repaying up to 75–80% of losses.
• ⏳ Moratorium extended – users and creditors can’t sue while WazirX reworks its plan.
Next: Revised restructuring must be submitted soon. Token distribution still pending.
#MarketRebound #IsraelIranConflict #ScalpingStrategy #SwingTradingStrategy #CryptoNewss