WazirX confirms restart on schedule while awaiting penalty hearing in May

The cryptocurrency exchange WazirX is waiting for a hearing scheduled for mid-May in order to restart operations and compensate affected users.

The Indian cryptocurrency exchange WazirX, which was hacked for $234 million last July, stated that it is on track to resume operations while awaiting a court ruling on May 13 regarding the restructuring proposal and compensation plan for users.

If the Singapore Supreme Court approves, WazirX's parent company Zettai PTE Ltd could restart the exchange and begin a compensation program for affected users within 10 working days, WazirX stated in an update on April 21 for X.

WazirX lost $234 million in cryptocurrency from a secure multi-signature wallet in mid-July 2024 in an attack believed to be carried out by North Korean hackers, forcing them to suspend all cryptocurrency withdrawals and the Indian rupee on the platform.

The company stated: "Zettai has completed all necessary prior steps, and the next important step is the hearing on the sanctions order scheduled by the Singapore High Court on May 13, 2025."

“This hearing is essential for the Program to have legal effect. Although we have made efforts to meet the previously shared timelines, court proceedings are still occurring independently, and we respect that process.” #Singapore