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WazirX Reimbursement Plan Faces Delay as Singapore Court Extends Existing Moratorium to June 6
WazirX has been directed by the Singapore High Court to complete some more documentation work before giving it the go-ahead to implement its restructuring scheme. For now, the Singapore court has extended its moratorium cover to WazirX and Zettai to 6 June.
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WazirX Tells Creditors to Approve Restructuring Scheme or Wait Till 2030 for Refunds
WazirX said if a majority of creditors vote against the scheme, they could have to wait for up to five years to get compensated for the funds they lost in the July 2024 hack. A company spokesperson told Gadgets 360 that the exchange plans to start the voting process by the end of February or early March.
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Singapore Court Approves WazirX’s Financial Restructuring Plan, Creditors to Vote Next
The Singapore High Court has approved WazirX's financial restructuring scheme, contingent on at least 75 percent of creditors voting in favour. If approved, WazirX will initiate the reimbursement process within ten business days of the scheme's effective date.
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CoinSwitch Announces Rewards-Backed Initiative for WazirX Users to Recover Around Rs. 600 Crore
CoinSwitch has announced a recovery programme for distressed WazirX users. The plan is estimated to help WazirX users recover at least Rs. 600 crore over a period of two years. Meanwhile, WazirX is preparing to present its restructuring plan in a Singapore court on January 22, after which it plans to extend the proposal to its creditors.
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WazirX Restructuring Plan Heads to Court in January; Risk of Liquidation If Rejected
Zettai stated that it is awaiting Singapore Court approval to present its restructuring plan to creditors. It added that if the plan is not approved, WazirX’s only remaining option would be liquidation.
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WazirX’s Moratorium Appeal Gets Four Months' Time from Singapore Court, Here’s What it Means
A Singapore court has granted WazirX a four-month moratorium period to complete its financial restructuring. In a press note released by the exchange on Thursday, September 26 it said that this action paves way for a legally binding resolution to restore WazirX’s crypto balances.
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WazirX’s Moratorium Plan Backed by Just 441 Users Amidst Widespread Social Media Backlash
In a recent affidavit, WazirX informed its users that only 441 have backed the moratorium appeal filed by its majority stakeholder, Zettai, in a Singapore court. WazirX also disclosed to Gadgets360 that it currently has two million monthly active users.
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WazirX’s Singapore-Based Stakeholder Zettai Applies for Moratorium to Restructure Funds
WazirX estimates that Zettai may take at least six months to stitch up a scheme, which if approved by the creditors and sanctioned by the Singapore Court, “would be legally binding on all relevant parties, including Zettai.” The platform needs this time to finalise the terms and conditions of this financial restructuring scheme.
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Indian Gets Jail For Hacking Ex-Employer's Server In Singapore
An Indian national was sentenced to two years and six months' jail term here for a charge of unauthorised access to computer material during which he deleted 180 virtual servers, costing his employer about SGD 918,000 (USD678,000).
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Singapore Imposes $740,000 Fine In Data Hack Affecting 1.5 Million People
Singapore's privacy watchdog today imposed fines of Sg$1 million, or $740,000,on a healthcare provider and an IT agency over a cyber-attack that saw health records of about quarter of the population stolen.
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NITI Aayog Launches Global Hackathon to Crowdsource Mobility Solutions
NITI Aayog's mobility hackathon 'Move Hack' will have an online leg, followed by a Singapore leg, and the finals in New Delhi.
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Singapore Health Database Hit by Cyber-Attack, Leaking Details of 1.5 Million Including PM
A major cyber-attack on Singapore's government health database stole the personal information of about 1.5 million people, including Prime Minister Lee Hsien Loong.
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Singapore Varsity Says Islamic State-Hacked Website Restored
A Singaporean university said its website was taken offline for a day after it was attacked by hackers claiming to be from the Islamic State terror group.
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Indian-Origin Man Jailed for Computer Hacking in Singapore
A 36-year-old Indian-origin manhas been jailed for four years and eight months on charges of hacking computers of at least seven organisations including the ruling party in 2013.
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Indian-Origin Man Jailed for Over 4 Years for Hacking in Singapore
James Raj Arokiasamy, who calls himself "The Messiah", had pleaded guilty to the charges last week.
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WazirX Reimbursement Plan Faces Delay as Singapore Court Extends Existing Moratorium to June 6
WazirX has been directed by the Singapore High Court to complete some more documentation work before giving it the go-ahead to implement its restructuring scheme. For now, the Singapore court has extended its moratorium cover to WazirX and Zettai to 6 June.
-
WazirX Tells Creditors to Approve Restructuring Scheme or Wait Till 2030 for Refunds
WazirX said if a majority of creditors vote against the scheme, they could have to wait for up to five years to get compensated for the funds they lost in the July 2024 hack. A company spokesperson told Gadgets 360 that the exchange plans to start the voting process by the end of February or early March.
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Singapore Court Approves WazirX’s Financial Restructuring Plan, Creditors to Vote Next
The Singapore High Court has approved WazirX's financial restructuring scheme, contingent on at least 75 percent of creditors voting in favour. If approved, WazirX will initiate the reimbursement process within ten business days of the scheme's effective date.
-
CoinSwitch Announces Rewards-Backed Initiative for WazirX Users to Recover Around Rs. 600 Crore
CoinSwitch has announced a recovery programme for distressed WazirX users. The plan is estimated to help WazirX users recover at least Rs. 600 crore over a period of two years. Meanwhile, WazirX is preparing to present its restructuring plan in a Singapore court on January 22, after which it plans to extend the proposal to its creditors.
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WazirX Restructuring Plan Heads to Court in January; Risk of Liquidation If Rejected
Zettai stated that it is awaiting Singapore Court approval to present its restructuring plan to creditors. It added that if the plan is not approved, WazirX’s only remaining option would be liquidation.
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WazirX’s Moratorium Appeal Gets Four Months' Time from Singapore Court, Here’s What it Means
A Singapore court has granted WazirX a four-month moratorium period to complete its financial restructuring. In a press note released by the exchange on Thursday, September 26 it said that this action paves way for a legally binding resolution to restore WazirX’s crypto balances.
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WazirX’s Moratorium Plan Backed by Just 441 Users Amidst Widespread Social Media Backlash
In a recent affidavit, WazirX informed its users that only 441 have backed the moratorium appeal filed by its majority stakeholder, Zettai, in a Singapore court. WazirX also disclosed to Gadgets360 that it currently has two million monthly active users.
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WazirX’s Singapore-Based Stakeholder Zettai Applies for Moratorium to Restructure Funds
WazirX estimates that Zettai may take at least six months to stitch up a scheme, which if approved by the creditors and sanctioned by the Singapore Court, “would be legally binding on all relevant parties, including Zettai.” The platform needs this time to finalise the terms and conditions of this financial restructuring scheme.
-
Indian Gets Jail For Hacking Ex-Employer's Server In Singapore
An Indian national was sentenced to two years and six months' jail term here for a charge of unauthorised access to computer material during which he deleted 180 virtual servers, costing his employer about SGD 918,000 (USD678,000).
-
Singapore Imposes $740,000 Fine In Data Hack Affecting 1.5 Million People
Singapore's privacy watchdog today imposed fines of Sg$1 million, or $740,000,on a healthcare provider and an IT agency over a cyber-attack that saw health records of about quarter of the population stolen.
-
NITI Aayog Launches Global Hackathon to Crowdsource Mobility Solutions
NITI Aayog's mobility hackathon 'Move Hack' will have an online leg, followed by a Singapore leg, and the finals in New Delhi.
-
Singapore Health Database Hit by Cyber-Attack, Leaking Details of 1.5 Million Including PM
A major cyber-attack on Singapore's government health database stole the personal information of about 1.5 million people, including Prime Minister Lee Hsien Loong.
-
Singapore Varsity Says Islamic State-Hacked Website Restored
A Singaporean university said its website was taken offline for a day after it was attacked by hackers claiming to be from the Islamic State terror group.
-
Indian-Origin Man Jailed for Computer Hacking in Singapore
A 36-year-old Indian-origin manhas been jailed for four years and eight months on charges of hacking computers of at least seven organisations including the ruling party in 2013.
-
Indian-Origin Man Jailed for Over 4 Years for Hacking in Singapore
James Raj Arokiasamy, who calls himself "The Messiah", had pleaded guilty to the charges last week.
