Core Insights - WazirX has received court approval for its debt restructuring plan, allowing it to reopen after a significant cyberattack that resulted in the theft of $234 million [1][3] - The Singapore High Court's approval came after 95.7% of voting creditors supported the amended scheme during a revote [1][5] - The platform is expected to restart operations within 10 business days following the legal effectiveness of the scheme [2] Company Developments - The restructuring marks one of the fastest recoveries in the global crypto industry despite the challenges faced [3] - WazirX's 6.6 million users have been unable to access their funds since the hack, which was linked to North Korean hackers [3] - The exchange aims to distribute recovery tokens, potentially allowing users to recover 75% to 80% of their account balances at the time of the hack [5] User Impact - Users have expressed frustration over the prolonged inability to access their funds, highlighting the need for transparency and timely execution in the recovery process [4] - The restructuring's success is crucial for users to regain access to their frozen crypto assets [4][5] Legal Context - The restructuring plan faced initial rejection by the Singapore High Court in June but was later approved after a revote in July [5] - Only 3.3% of creditors participated in the first vote, leading to the modification of the scheme [6] - The Delhi High Court has also ruled that CoinSwitch can secure its stolen assets held on WazirX, indicating ongoing legal scrutiny [6]