WazirX News: Singapore Court Approves New Hearing on User Repayment

The post WazirX News: Singapore Court Approves New Hearing on User Repayment appeared first on Coinpedia Fintech News

The Singapore High Court has granted Indian cryptocurrency platform WazirX the opportunity to present further arguments in its ongoing restructuring case. After months of anticipation and silence, WazirX confirmed the extension of its court-granted moratorium via a post on X (formerly Twitter).

Singapore Court Allows WazirX to Present Its Case

Previously, the court had declined to approve WazirX’s restructuring plan, prompting the company to file for relocation to Panama and rebrand itself as Zensui Corporation. However, the tide may be turning. In a statement, WazirX announced:

“The Singapore Court has granted our request to present further arguments in our application for the Court’s sanction of the proposed Scheme of Arrangement. Additionally, the Court has extended the moratorium… from 6 June 2025 until the disposal of the aforesaid further arguments.”

This extension could give WazirX a final chance to solidify its restructuring plan and potentially begin resolving user repayments.

Will WazirX Users Finally Get Their Funds Back?

Since the $234 million hack in July 2024, thousands of users have waited in vain for clear communication or compensation. WazirX had earlier promised to return 85% of user balances, but that pledge has been mired in legal delays and unclear updates.

Despite mounting pressure on social media, the company has largely remained silent, offering only generic reassurances like “we are doing our best.” In their latest tweet, WazirX stated:

“We are currently awaiting directions from the Court on the next steps and will keep you informed as soon as we have more clarity.”

This statement, while more official, still lacks concrete timelines—leaving users frustrated and in limbo.

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One Year Later: Still Waiting

As July 2025 approaches, it marks one year since the WazirX security breach—one of the largest crypto hacks of 2024. The extended silence and lack of action have left users questioning the company’s commitment to recovery.

The latest ruling by the Singapore High Court offers a ray of hope—but only if WazirX takes swift and transparent steps forward.

Final Thoughts

WazirX’s restructuring and moratorium extension could be a turning point—but whether it leads to actual repayment for users or more delays remains to be seen. With mounting pressure and legal timelines closing in, WazirX must act fast to regain trust and credibility in the crypto community.

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