Exchange WazirX will resume operations after restructuring plan is approved in Singapore

🚨 WazirX resumes operations after approval of restructuring plan in Singapore 🚨

The High Court approved Zettai Pte. Ltd.’s scheme.

The exchange plans to reopen in 10 business days after a hack that stole more than $230 million.

Recovery tokens will be launched… pic.twitter.com/owXen6kK3m

— Diario฿itcoin (@DiarioBitcoin) October 13, 2025

The Singapore High Court approved the restructuring plan of Zettai Pte. Ltd.parent company of WazirX, This paves the way for the international cryptocurrency exchange to resume operations before the end of October.

The court order came after a re-vote in Augustin which the 95.7% of creditors by number and 94.6% by value supported the proposed scheme. The measure represents a rare case of judicially supervised recovery within the crypto sector, which often sees collapses in which the affected companies fail to move forward after what happened, reports CoinDesk.

An imminent reopening

The founder of WazirX, Nischal Shettystated that the platform will restart operations within 10 business days after the legal entry into force of the plan. The goal is to return access to affected users and begin the first distributions to the accounts compromised by the hack.

“As soon as the scheme is legally effective, we will restart platform operations within 10 business days,” declared Shetty.

If it comes to fruition, the exchange would be operational again before the end of October, consolidating one of the few judicial resurrections in the crypto industry.

In order to strengthen its custody of assets, WazirX announced an alliance with the American company BitGo, known for providing secure storage services for institutional platforms. The objective is to meet the new regulatory and safety standards and rebuild the trust of your customers.

The plan also contemplates the launch of a decentralized exchange (DEX) and the recovery token issuancewhich can be negotiated in the market. Part of the company’s future revenue will go to periodically repurchase said tokensin a mechanism designed to gradually compensate affected users.

The hack that paralyzed WazirX

2024 was a dark year for the company. In July of that yearWazirX suffered a attack that led to the theft of more than USD $230 millionattributed to cluster Lazarusa North Korean organization linked to multiple cryptocurrency thefts globally.

The attack originated after a private key interception and generated a dispute between WazirX and your escrow provider, Liminal. While the exchange blamed the firm for the security flaws, the latter rejected the accusations and pointed out vulnerabilities in the exchange’s internal systems.

The hackers laundered the stolen funds using Tornado Cash, a protocol that mixes transactions to hide its trace. According to a report by CoinDesk published in September 2024, the operation significantly reduced the chances of a full recovery of the assets.

A recovery model for the industry

The case of WazirX could sit a unprecedented precedent for the Indian crypto ecosystem and global. Instead of liquidating the company or abandoning operations, the exchange opted for a process of international legal restructuring backed by the majority of its creditors.

The success of this reactivation will depend on the user confidence and the effectiveness of new security measures. If achieved, WazirX could become a exemplary case of corporate resilience within an industry accustomed to volatility and scandals.

Article written with the help of an AI content writer, edited by Angel Di Matteo / DailyBitcoin

Original image from Unsplash.

WARNING: DiarioBitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Investments in crypto assets are high risk and may not be suitable for everyone. Do your research, consult an expert and check applicable laws before investing. You could lose all your capital.

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