- Court hearing on May 13, 2025 to approve Wazirx repayment plan.
- Refunds to begin within ten working days of approval.
- User confidence remains low due to delays and lack of openness.
Wazirx customers can finally increase relief. In a long-awaited event, Cryptocurrency has officially submitted its Sanction application Prior to the Singapore Court as part of its ongoing restructuring exercise after a catastrophic cyber attack in 2024. The court has planned May 13, 2025 for hearing.
This archiving is a significant feature of the platform’s attempt to compensate affected users from the infringement, where more than $ 230 million in assets were lost.
According to early research, the hack was caused by a leaked private key, although technical details have not yet been released. User outlets were stopped immediately and an official recovery plan began to take shape according to Singaporic team afterwards.
What is next?
Wazirx said that, subject to the court’s sanction, the first repayment trans will begin within ten working days after the negotiation date. The repayments are in a court -completed arranging system, which Wazirx had insured users by standard.
Withdrawals and trade will be resumed gradually, subject to regulatory conditions; However, no dates have been released.
In a new X (formerly Twitter) tweet, founder nichel shetty, society assured that everything is “on the right track” and asked people to exercise patience. He delayed rumors of delay and said that the planned court hearing is the next step.
A glimpse of hope despite the ongoing skepticism is the archiving genuine progress. Not a final resolution, but having a court date on the calendar and an agreed repayment schedule gives users a clearer direction. After months of silence and uncertainty, this may be the beginning of a new chapter for Wazirx and its users.
