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Crypto exchange WazirX has finally secured approval from the Singapore High Court for its restructuring plan, paving the way for user repayments following the $234 million hacking incident last year.&nbsp;
The court’s decision comes weeks after creditors <a href="https://cointelegraph.com/news/wazirx-users-approve-new-restructuring-plan-after-hack" rel="noopener noreferrer nofollow">backed a revised proposal</a>. The approval allows WazirX to start the next phase of its recovery process, including token-based fund distributions and reviving the exchange’s operations.
“Thank you to everyone who supported this difficult phase of WazirX. The Singapore High Court has approved the scheme,” WazirX founder Nischal Shetty <a href="https://x.com/NischalShetty/status/1977618628167262478" rel="noopener noreferrer nofollow" target="_blank">said</a> in a post on X. “It’s your support and love that has made this possible.”
The court’s approval marked a milestone for the India-based exchange, which has already spent more than a year navigating the legal hurdles required to return funds to over 150,000 users.&nbsp; 
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 <img src="https://s3.cointelegraph.com/uploads/2025-10/0199dd06-a5f1-7a54-a98b-12534a74e24d" title="" alt="Singapore court approves WazirX restructuring plan after $234M hack">
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 Source: <a href="https://x.com/NischalShetty/status/1977618628167262478" rel="noopener noreferrer nofollow" target="https://x.com/NischalShetty/status/1977618628167262478">Nischal Shetty</a>
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<h2 id="wazirx-users-inch-closer-to-fund-recovery-after-234-million-hack">WazirX users inch closer to fund recovery after $234 million hack</h2>
WazirX <a href="https://cointelegraph.com/news/wazirx-users-approve-new-restructuring-plan-after-hack" rel="noopener noreferrer nofollow">lost about $234 million</a> in crypto assets from a Safe Multisig wallet breach in July 2024, which forced the exchange to pause withdrawals on the platform.
The attack has since been linked to North Korean hackers, as analysts <a href="https://cointelegraph.com/news/wazirx-235m-hack-north-korean-hackers" rel="noopener noreferrer nofollow">observed similar techniques</a> often used by the Lazarus hacking group.&nbsp;
In April, WazirX creditors <a href="https://cointelegraph.com/news/wazirx-creditors-approve-restructuring-plan-post-hack" rel="noopener noreferrer nofollow">approved a similar scheme</a> months after the exchange told users that non-approval could <a href="https://cointelegraph.com/news/wazirx-hack-repayments-vote-2030-delay" rel="noopener noreferrer nofollow">delay repayments until 2030</a>.&nbsp;
However, the Singapore High Court did not approve the proposal, citing concerns over how the recovery tokens, which will be used to compensate users, would be affected by a <a href="https://cointelegraph.com/news/singapore-crypto-firms-deadline-overseas-digital-token-services" rel="noopener noreferrer nofollow">proposed regulatory framework</a> for digital token service providers.&nbsp;
Related: <a href="https://cointelegraph.com/news/235m-wazirx-crypto-exchange-hack-india" rel="noopener noreferrer nofollow">$235M WazirX exchange hack has implications for India’s crypto industry</a>
<h2 id="wazirx-eyes-swift-restart-but-repayment-timelines-vary">WazirX eyes swift restart, but repayment timelines vary</h2>
With the latest development, users are inching closer to seeing their funds back after over a year of waiting.
On Aug. 20, Shetty <a href="https://wazirx.com/blog/95-percent-wazirx-users-approve-amended-scheme-in-revote/" rel="noopener noreferrer nofollow" target="_blank">said</a> that after the court’s approval, the exchange would be revived and users could get their funds within 10 days of the scheme taking effect.&nbsp;
While Shetty seemed optimistic about a quick turnaround, George Gwee, a director at restructuring firm Kroll that is working with WazirX, <a href="https://www.youtube.com/watch?v=L791rGLsVm0" rel="noopener noreferrer nofollow" target="_blank">said</a> users may need to wait two to three months after the approval before they can finally receive funds.&nbsp;
At the time of writing, WazirX had not published any definite estimates of when the repayments will begin.&nbsp;
Cointelegraph reached out to WazirX for clarification, but did not get a response by publication.&nbsp;
Magazine: <a href="https://cointelegraph.com/magazine/europe-chat-control-germany-oppose-scan-messages/" rel="noopener noreferrer nofollow">EU’s privacy-killing Chat Control bill delayed — but fight isn’t over</a>

Singapore court approves WazirX restructuring plan after $234M hack

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