In a big blow to ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/crypto-exchange” target=”_blank”>crypto exchange WazirX, the ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/singapore-high-court” target=”_blank”>Singapore High Court, on Wednesday, dismissed its restructuring plan submitted by Zettai Pte Ltd in November 2024, after the platform suffered a $235 million cyber theft in July last year.
Sources privy to Wednesday’s hearing told ET, the Singapore court observed that WazirX-operating entity Zettai Pte Ltd was not registered in India and hence the restructuring Scheme shall not be valid.
The plan, proposed by Zettai, was placed before the court as part of an ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/insolvency-process” target=”_blank”>insolvency process after ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/markets/wazirx”>WazirX, once the largest…
