Wazirx recently concluded customer vote on its restructuring scheme designed to compensate users affected by the hacking accident in July last year. After the majority of creditors voted in favor of the proposal, the Stock Exchange reported the development of the Supreme Court of Singapore, seeking a final signal to start the payment. However, the court decided to postpone the case to another date, and it ordered Wazirx and its mother company Zettai to complete more documents.
The stock exchange moved to X (previously Twitter) to explain the latest developments, which seems to have worsened creditors whose reaction to the post was with sharp criticism. However, Wazirx was transferred through his position to “doing everything we can make this possible under an effective plan.”
If you want to recover money …. Why does the court permission require? … If you do not want to recover money … you deny … Why are you going around and round? How can you keep our money with you … you have some shame … the comments section are also handicapped .. why? https://t.co/bh5niezgh8
– vsm (@rang_13) May 16, 2025
Currently, the Singapore Court extended the endowment cover to Wazirx and Zettai until June 6. The endowment can be explained as a legal license for debtors to postpone payments for creditors. During the endowment period, debtors are also protected from any new cases.
Zettai, the parent entity in Singapore, was extended in Wazirx, for the first time to obtain a stop in August 2024. What started as an attractive two -day scales, was now extended until the first week of June.
Last month, Wazirx announced that 93 percent of its creditors voted for the proposed restructuring scheme. This scheme includes the release of trading recovery codes (RTS) and the distribution of recovery processes through RT purchase mechanisms.
According to the numbers shared by Zettai last month, 141,476 creditors participated in the polling process and formed more than 195 million dollars (about 1,673 rupees) in claims.
The company has committed that the distribution of these distinctive RT symbols will begin within seven working days to receive the punishment from the Singapore Court. Clamen will have to wait until June 6 before making any progress.
On July 18, 2024, the multi-signed Wazirx portfolio-which was managed under the supervision of the limited nursery-was hacked in a penetration of $ 230 million (about 1900 rupees). The Stock Exchange attributed the violation of the North Korean infiltrators, citing the investigation reports. Despite the announcement of the White Hat Boundy initiative, the stock exchange has not followed the money that was stolen last year yet.
