Nischal Shetty, Head, WazirX.
Credit: Twitter/ @NischalShetty
Bengaluru: In a significant development in WazirX's recovery journey, Zettai Pte Ltd, the Singapore-based parent company of the crypto exchange, announced on Monday that the High Court of Singapore has officially sanctioned the creditor-approved restructuring scheme proposed by the company, with modifications. This comes after 95.7% of voting creditors — representing 94.6% in value — re-voted in favour of the Scheme in August 2025.
This paves the way for the reopening of the platform. A cyberattack on WazirX in July last year resulted in the theft of approximately Rs 2,000 crore worth of funds, and the exchange has not been operational since then.
“The sanction represents a key milestone in WazirX’s journey since it marks one of the fastest restructurings in the global crypto industry, despite suffering one of the biggest cyberattacks in the history of this space. We remain fully focused on our mission towards acting in the best interests of our creditors. As soon as the scheme is legally effective based on today’s verdict, we will start platform operations within 10 business days," said Nischal Shetty, Founder of WazirX.
Zettai said as the next step, it will file the order with the Accounting and Corporate Regulatory Authority (ACRA). "Within 10 business days of the Scheme becoming effective, the WazirX platform will restart, and token distributions to Scheme Creditors will take place. Zettai will notify all Scheme Creditors regarding the relevant legal filings and timelines," the company said.
To further strengthen the security of funds, the company has partnered with custodian BitGo.
Meanwhile, Bitcoin, the largest cryptocurrency by market value, slipped to $108,000 following the US announcement of 100% tariffs on Chinese goods, before consolidating in the $110,000–$115,000 range. "The drop was largely driven by mass liquidations and profit-booking as global risk sentiment weakened. Despite the volatility, markets have shown resilience, and total crypto market capitalisation has rebounded above $4 trillion, with BTC and ETH gaining 4.8% and 12.4%, respectively, in the past 24 hours. With early signs of easing trade tensions and potential US–China dialogue, market sentiment has improved. Bitcoin now faces resistance around $118,000–$120,000," CoinSwitch Markets Desk said.
Crypto exchange CoinSwitch said it observed strong investor activity amid the dip. "Investors are clearly buying the dip, viewing corrections as long-term opportunities rather than moments of panic," it said.