Singapore High Court Approves WazirX Restructuring Plan
WazirX is set to reopen within 10 business days after securing approval for its restructuring plan, marking the next phase in its recovery from a $240 million hack and bankruptcy.
Fact Check
The evidence indicates a clear timeline of events. While an initial restructuring plan was rejected by the Singapore High Court in June 2025 (Sources 5, 6, 9), subsequent reports from mid-July 2025 show the court approved a revote on an amended plan (Sources 3, 4, 7). The most recent evidence, corroborated across multiple sources (Sources 1, 2, 13, 17), confirms that this revised restructuring plan has now received final court approval.
Summary
WazirX is poised to reopen within 10 business days following the court-approved restructuring scheme filed with Singapore’s ACRA. The plan was supported by over 95% of creditors and allows for user repayments through Recovery Tokens. The exchange is recovering after a $240 million hack and bankruptcy in early 2024. Users will receive RTs based on their claims, with future revenue, recovered funds, and profits potentially covering the remainder of their losses.
Terms & Concepts
- Recovery Tokens: Digital tokens representing claims to be fulfilled over time, issued to users affected by the hack as part of the repayment plan.
- ACRA: The Accounting and Corporate Regulatory Authority of Singapore, which oversees business registration and regulation in Singapore.