Singapore High Court Approves WazirX's Amended Debt Repayment Plan
The Singapore High Court has given the green light to WazirX's modified debt repayment plan, paving the way for the crypto exchange to resume operations.
WazirX will start platform operations within 10 business days after the scheme becomes legally effective, according to Nischal Shetty, founder and CEO of WazirX.
As soon as the scheme is legally effective based on today’s verdict, we will start platform operations within 10 business days.
The approval comes nearly 15 months after a cyberattack resulted in the loss of almost $230 million in crypto assets from the platform.
WazirX operates through two entities: parent company Zettai in Singapore and Zanmai Labs in India.
The next step for WazirX's parent company is to file the Singapore High Court order with the Accounting and Corporate Regulatory Authority (ACRA).
Author's summary: WazirX gets approval for debt plan.