Core Points - WazirX, an Indian cryptocurrency exchange, will restart operations on October 24 after a restructuring process approved by the High Court of Singapore, marking a new chapter focused on trust, transparency, and innovation [1] - The restructuring, supported by WazirX's creditors, allows the platform to resume trading and distribute tokens to creditors within 10 business days, alongside the introduction of Recovery Tokens [2] - WazirX will implement 0% trading fees across all trading pairs as part of its Restart Offer, alleviating transaction costs for users [2] Company Strategy - The relaunch will begin with select crypto-to-crypto pairs and the USDT/INR market, followed by a gradual expansion of additional trading pairs [4] - To enhance fund safety, WazirX has partnered with BitGo for institutional-grade, insured custody solutions for user assets [4] - The restructuring included token swaps, mergers, delistings, and migrations, emphasizing a commitment to user protection and regulatory transparency [5] Background and Recovery Efforts - WazirX experienced a significant exploit of $234.9 million on July 18, 2024, attributed to a cyberattack by North Korea's Lazarus Group, leading to a major recovery effort [6] - The restructuring plan was approved after over 95% of participating creditors voted in favor of it in mid-August 2025, aimed at recovering user assets and restarting operations [7]

Core Points - The Singapore exchange has approved the restructuring plan for WazirX, allowing the Indian crypto exchange to resume operations within 10 working days following a significant hack in July 2024 that resulted in a loss of $240 million [1][2] - The High Court of Singapore sanctioned the restructuring scheme, with over 95% of creditors voting in favor, marking a crucial step in WazirX's recovery process [3] - Users will regain access to their frozen funds through a combination of crypto, cash distributions, and Recovery Tokens, which will be distributed on a pro-rata basis based on approved claims [3][7] Company Operations - WazirX plans a phased reopening to manage liquidity and operational risks while facilitating orderly withdrawals [4] - The exchange has partnered with global custodian BitGo to enhance fund security, implementing strengthened custody measures and third-party oversight [4] - The restructuring plan follows a prolonged freeze for WazirX's 6.6 million users, who have been unable to access their accounts since the hack [6] Recovery Tokens - Users who held assets on WazirX before the hack are eligible for Recovery Tokens, which provide a share of the platform's future revenue, any recovered funds, and potential profits [7]

Core Points - Singapore's High Court has approved Zettai Pte. Ltd.'s restructuring scheme, allowing Indian crypto exchange WazirX to reopen after a significant hack [1] - A re-vote in August showed 95.7% of creditors by number and 94.6% by value supported the restructuring plan [1] Group 1: Restructuring and Reopening - WazirX founder Nischal Shetty stated that platform operations will restart within 10 business days once the scheme is legally effective, potentially before the end of October [2] - This reopening represents a rare court-supervised resurrection in the exchange sector [2] Group 2: User Recovery and Trust - Users affected by the hack are expected to regain access to the platform and receive initial distributions shortly after the restart [2] - WazirX plans to partner with U.S.-based custodian BitGo to enhance asset protection and rebuild user trust [3] Group 3: Security and Recovery Measures - The exchange aims to launch a decentralized exchange (DEX) and issue recovery tokens that can be traded, along with a periodic buyback of these tokens using platform profits [3] - WazirX users lost over $230 million in a security breach attributed to the Lazarus Group, which involved private key interception [4] - The hacker laundered the stolen funds using Tornado Cash, complicating recovery efforts [5]