After more than a year of legal back-and-forth, the WazirX recovery process has finally reached its conclusion. Following the $235 million cyberattack in July 2024 that affected over 16 million users, the Singapore High Court has now approved Zettai Pte Ltd’s Scheme of Arrangement, paving the way for user payouts, Recovery Token distribution, and the long-awaited platform relaunch.
With the Scheme sanctioned on October 13, 2025, and filed with the Accounting and Corporate Regulatory Authority (ACRA) on October 15, 2025, WazirX is set to restart trading and withdrawals within 10 business days by late October 2025.
This update provides a clear timeline of what’s happened so far, how the payout process will unfold, and what users should do next.
| Status | Details |
|---|---|
| Court Approval | Sanctioned by the Singapore High Court on October 13, 2025 |
| ACRA Filing | Completed on October 15, 2025 |
| Trading & Withdrawals | Expected to resume within 10 business days of ACRA filing (by late October 2025) |
| User Fund Recovery | ~75–80% of funds to be distributed (52% in crypto + 23–28% in Recovery Tokens) |
| Moratorium | Concluded with final sanction — legal protections no longer blocking payouts |
| Next Steps | Begin distribution, RT issuance, and platform restart |
On July 18, 2024, hackers linked to North Korea’s Lazarus Group stole $235 million from WazirX, one of India’s largest crypto exchanges. The incident froze all trading and withdrawals and triggered one of Asia’s largest crypto restructuring cases.
WazirX’s Singapore-based parent, Zettai Pte Ltd, initiated a court-led recovery plan under Singapore’s High Court (Case No. HC/SUM 940/2025) to compensate affected users and restore the exchange’s operations.
Between early 2025 and mid-2025, the WazirX case saw multiple hearings, revisions, and moratorium extensions.
Here’s how the legal journey unfolded:
| Date | Event | Outcome |
|---|---|---|
| Jan 22, 2025 | User Vote Approved | Singapore Court allowed users to vote on the Scheme. |
| Mar 29, 2025 | Voting Concluded | 93.1% of users (94.6% by value) approved the plan. |
| Apr 16, 2025 | India Supreme Court Ruling | Dismissed user petition, confirming Singapore jurisdiction. |
| May 13, 2025 | Initial Sanction Denied | Court requested structural clarifications. |
| Jun 13, 2025 | Revote Allowed | Court approved a revised Scheme for re-voting. |
| Sept 3–29, 2025 | Further Submissions | Zettai filed additional documents addressing creditor objections. |
| Oct 13, 2025 | Scheme Sanctioned | Singapore High Court approved the plan with minor modifications. |
| Oct 15, 2025 | ACRA Filing Completed | Order registered; Scheme became legally effective. |
| Late Oct 2025 | Relaunch & Payout Phase | Trading and withdrawals to restart within 10 business days. |
This final sanction brings the long-running case to a close, officially allowing WazirX to execute payouts and resume normal operations.
With the Scheme approved and filed, the fund release process is now set in motion.
The court’s decision, now potentially following the October 3, 2025, submissions, could lead to three outcomes:
Recovery Tokens (RTs) are a unique element of the WazirX recovery model — giving users a way to benefit from the exchange’s future success.
Key Highlights:
The WazirX case has become a defining moment for the Indian crypto landscape.
It demonstrates that structured recovery is possible even after major exchange hacks, strengthening investor confidence and setting a regulatory example for future crises.
The relaunch is not just a restart; it’s a blueprint for how transparency, compliance, and user protection can coexist in the Indian digital asset ecosystem.
The WazirX court case remains unresolved, with critical submissions due by October 3, 2025, and further directions pending. Users should prepare for potential payouts by mid-October 2025 or additional delays into 2026. Stay updated via WazirX’s official channels for real-time insights.
ALSO READ: 8 Red Flags WazirX Users Completely Missed
On July 18, 2024, WazirX, a major Indian crypto exchange, was hacked, resulting in a loss of $234 million. The attack, attributed to North Korea’s Lazarus Group, impacted over 15 million users, halting trading and withdrawals, leaving users unable to access their funds.
The critical court hearing is scheduled for May 13, 2025, in Singapore’s High Court. It will determine whether WazirX’s restructuring plan to return funds to users is approved. If approved, payments could start within 10 business days, potentially by late May 2025.
Users are expected to receive 75–80% of their funds through a combination of crypto payments (about 52% in cryptocurrencies WazirX still holds) and Recovery Tokens tied to WazirX’s future profits, which can be traded or held for potential gains.
If the court rejects the plan on May 13, 2025, fund releases could be delayed until June 2025 or, in the worst-case scenario, as late as 2030, significantly prolonging the wait for affected users.
