The much-awaited restructuring plan for WazirX users has hit another pause. On May 13, the Singapore court reviewed the exchange’s application SUM 940 for restarting repayments — but instead of giving the green light, it asked WazirX to submit additional affidavits by May 23, and extended the current moratorium until June 6.
The court hearing was a key moment in WazirX’s plan to repay users who were affected by the huge ₹2,000 crore hack on July 18, 2024. At the time, WazirX, which was once the leading crypto exchange in India, froze more than half of its users’ funds and suspended trading. This left many users in the dark, uncertain about whether they would ever get their money back or when that might happen.
Fast forward to early 2025, WazirX moved to a Singapore court with a recovery plan. And things finally looked promising a few weeks ago when the company said 93.4% of users backed the proposal.
As per the plan, users were set to get 85% of their holdings based on balances at the time of the hack. The platform even said repayments would begin within 10 days of court approval.
But now, that timeline is unclear again.
The court hasn’t given a final decision or even scheduled the next hearing yet. It wants to review the new affidavit before deciding what comes next.
WazirX has assured users that it’s doing everything it can to get the plan approved. But with another delay in the mix, users, many of whom have waited nearly a year, will have to wait a little longer to get their funds back.
No clear date, no green signal — just counting long days.
Also Read: Rise and Fall of WazirX: Mapping India’s Biggest Crypto Hack
