After more than a year of uncertainty, users of Indian crypto exchange WazirX have received long-awaited relief following the Singapore High Court’s approval of the company’s restructuring plan on October 13, 2025. The ruling allows users to recover up to 55% of the $235 million (around ₹2,000 crore) lost in the July 2024 hack, marking a major step forward in one of India’s largest crypto recovery efforts.
The court’s decision comes after a lengthy and complex process. WazirX’s initial proposal was rejected, but a revised plan gained overwhelming backing from creditors, with more than 95% voting in favour. Under the approved scheme, the recovery and payouts will be managed by Singapore-based Zettai Pte. Ltd. Eligible users are expected to receive their compensation in USDT within 10 business days, though the exchange has yet to announce the official withdrawal date.
The court’s approval represents a critical victory for WazirX’s 16 million users—most of them based in India—who have endured over a year of frozen accounts and unanswered questions. It also marks a turning point for the exchange, which has struggled to rebuild confidence since the 2024 hack that led to massive losses and intense scrutiny from regulators.
Reacting to the development, WazirX CEO Nischal Shetty expressed gratitude to the platform’s users for their patience and trust. In a post on X, Shetty wrote, “The Singapore High Court has approved the scheme. It’s your support and love that made this possible. Now we set out on the next phase to work hard and create value for everyone. We’re here because of YOU.” His statement highlighted the company’s renewed focus on regaining credibility and delivering long-term value to the community.
Following the court’s decision, WazirX’s native token, WRX, surged nearly 21% in 24 hours, trading around $0.05513 at the time of writing. Data from CoinMarketCap showed that its market capitalisation rose to $21.05 million, while its 24-hour trading volume spiked 26.22% to $83,360. The rebound reflects growing optimism among investors who view the court’s approval as a positive signal for the exchange’s recovery.
While users remain eager for payouts to begin, WazirX must now focus on the execution phase, which ensures compliance with regulatory standards and the fair distribution of recovered assets. The court’s ruling provides financial relief to affected users and gives the exchange a chance to restore its reputation after a prolonged period of instability. If carried out smoothly, this restructuring could mark the beginning of a new chapter for WazirX and the broader Indian crypto landscape.
