After over a year of uncertainty following the $235 million cyberattack in July 2024, WazirX has officially entered its final phase of recovery. In a landmark decision on October 13, 2025, the Singapore High Court sanctioned Zettai Pte Ltd’s Scheme of Arrangement (HC/SUM 940/2025), marking a decisive step toward restoring user funds and resuming operations.
With the Scheme now filed with the Accounting and Corporate Regulatory Authority (ACRA) on October 15, 2025, the exchange will restart within 10 business days. This milestone concludes the legal process and initiates the implementation phase, including fund distributions, Recovery Token issuance, and platform relaunch.
| Status | Update |
|---|---|
| Trading/Withdrawals | Within 10 business days of the ACRA filing |
| Scheme Approval | Sanctioned by the Singapore High Court on October 13, 2025 |
| ACRA Filing | To restart within 10 business days from October 15, i.e., by late October 2025 |
| Next Steps | Begin distributions and Recovery Token allocations under the approved Scheme |
| Estimated First Payout | Within 10 business days of ACRA filing |
| Expected Recovery | ~75–80% of user funds (52% in crypto, 23–28% via Recovery Tokens) |
| Date | Milestone | Details |
|---|---|---|
| July 18, 2024 | Cyberattack | $235M stolen; operations halted. |
| January 22, 2025 | Creditor Vote Approved | Singapore Court approved user voting. |
| March 29, 2025 | Voting Concluded | 93.1% users (94.6% by value) approved restructuring. |
| May–Sept 2025 | Court Hearings & Submissions | Multiple revisions and affidavits filed. |
| Oct 13, 2025 | Scheme Sanctioned | Singapore High Court approved the Scheme with minor modifications. |
| Oct 15, 2025 | Filing with ACRA | Sanction order officially registered. |
| Late Oct 2025 | Relaunch Phase Begins | Platform to resume trading and withdrawals within 10 business days. |
WazirX remains closed for trading and withdrawals as of now but are working towards a platform restart. Updates will be posted on WazirX’s official blog or X account (@WazirXIndia).
Recovery Tokens form a core part of WazirX’s innovative recovery model. They represent claims on WazirX’s future revenue streams, helping bridge the gap between stolen and recovered assets.
Key Features:
While the sanction marks a major win, users should remain aware of ongoing considerations:
However, the completion of the legal process has eliminated the liquidation risk that once threatened user recoveries.
Jason Kardachi of Kroll notes:
“The scheme represents a paradigm shift in crypto insolvency resolutions. By combining immediate liquidity with long-term recovery mechanisms, the WazirX relaunch balances creditor needs with operational realities.”
The sanction and ACRA filing officially close WazirX’s long legal chapter and open a new operational one.
Trading, withdrawals, and Recovery Token distributions are set to restart by the end of October 2025, marking one of the largest and most structured crypto recovery efforts in Asia.
While challenges remain, WazirX’s transparent and court-supervised roadmap offers hope — not just for its 16 million users, but for the future of crypto exchange accountability.
Join the Mudrex Official Telegram Community for real-time updates, expert insights, and trading discussions as the Indian crypto ecosystem turns a new page.
Not yet, but the platform will restart trading and withdrawals by late October 2025, following the ACRA filing.
Yes, around 75-80% of balances (52% in crypto, 23–28% via Recovery Tokens) will be distributed under the approved Scheme.
Yes. They will be listed for trading after the platform’s relaunch, with profit-sharing features tied to WazirX’s performance.
No, withdrawals are suspended until court approval, potentially starting mid-October 2025.
Yes, WazirX operates legally in India but is under Singapore jurisdiction for restructuring. No ban exists, though regulatory probes continue.
WazirX is owned by Zettai Pte Ltd, with Nischal Shetty as a key founder and leader.
If rejected, WazirX must propose a new plan, delaying payouts to 2026 or beyond. Liquidation could reduce recovery to 30–50%.
