Singapore court declines WazirX’s restructuring plan following $230-million hack

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Crypto exchange WazirX’s restructuring plan to return funds of users following its $230-million hack is now in a limbo as Singapore High Court declined the plan on June 4, the exchange shared on X.

This comes a month after the exchange’s moratorium period under the Singapore court ended. Prior to the cyberattack on one of multisig wallets in July 2024, WazirX was India’s largest crypto exchange with at least 33% of Indian crypto users either holding balances or accounts with the exchange.

WazirX lost nearly 45% of its crypto holdings in this…



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Singapore court declines WazirX’s restructuring plan following $230-million hack


Crypto exchange WazirX’s restructuring plan to return funds of users following its $230-million hack is now in a limbo as Singapore High Court declined the plan on June 4, the exchange shared on X.

This comes a month after the exchange’s moratorium period under the Singapore court ended. Prior to the cyberattack on one of multisig wallets in July 2024, WazirX was India’s largest crypto exchange with at least 33% of Indian crypto users either holding balances or accounts with the exchange.

WazirX lost nearly 45% of its crypto holdings in this…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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