WazirX Gets a Second Chance as Court Allows a Revote on Its Restructuring Plan

Key Points

1. The Singapore High Court overturned a previous decision, permitting a revote on WazirX's restructuring plan and extending Zettai's moratorium.

2. WazirX is urging creditors and affected users to participate in the revote, which could enable the platform to resume limited operations.

3. A legal dispute over user assets dates back to a July 6 filing, where plaintiffs challenged Zettai's claim over user funds, arguing it violates Singapore’s trust laws.

4. Plaintiffs question the legitimacy of the hack cited by Zettai, with on-chain data suggesting internal multi-signature wallets were involved.

5. WazirX is recovering from a $234 million exploit in July 2024, attributed to North Korean hackers, and had previously received 90% user approval for a restructuring plan in March 2025.