WazirX Gains Singapore Court Approval for Restructuring Post-Hack
- WazirX was hacked in July, losing over $230 million.
- The hack involved the North Korean group Lazarus.
- The Singapore High Court approved WazirX’s restructuring plan.
- 45% of WazirX’s $500 million holdings were stolen in the attack.
- Funds will be distributed to creditors within 10 business days if the plan is approved.
The Singapore High Court has allowed WazirX to proceed with a restructuring plan after hackers stole over $230 million, which accounted for more than 45% of its holdings. The plan aims to repay creditors swiftly following approval.
Source (2.6)https://www.coindesk.com/policy/2025/01/23/wazirx-wins-approval-from-singapore-court-to-repay-users-following-usd230m-hack?rand=52298
