Tue Oct 14 05:21:41 UTC 2025: ## Crypto Exchange WazirX Set to Relaunch After Court Approval of Restructuring
**Singapore, October 14, 2025** – Embattled cryptocurrency exchange WazirX has received a crucial lifeline with the Singapore High Court sanctioning its creditor-approved restructuring scheme. The announcement, made on Monday, October 13, 2025, comes over a year after a devastating cyberattack that resulted in losses exceeding $230 million.
The restructuring plan aims to address the fallout from the security breach, which occurred in July 2024 when North Korean hackers targeted a multi-signature wallet managed by Liminal. The incident led to significant criticism, with investors questioning the exchange’s lack of an emergency fund to compensate affected users.
Despite initial setbacks, including a rejection of the first proposed restructuring plan, WazirX persevered. In August, a re-vote saw overwhelming support for the revised scheme, with 95.7% of creditors, representing 94.6% of the value, voting in favor.
The exchange is now preparing to file the order with the Accounting and Corporate Regulatory Authority (ACRA). WazirX anticipates resuming operations within 10 business days of the scheme’s effective date, marking the restart of token distributions to customers. The exchange has also announced a new partnership with custodian BitGo, likely aimed at bolstering security measures.
“The sanction represents a key milestone in WazirX’s journey… We remain fully focused on our mission towards acting in the best interests of our creditors,” stated Nischal Shetty, founder of WazirX.
The case highlights the ongoing challenges and vulnerabilities faced by the cryptocurrency industry, particularly in safeguarding user funds against sophisticated cyber threats. While WazirX aims to move forward, the long-term impact of the breach and the subsequent restructuring on its reputation remains to be seen.
First Piper 