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Madras High Court Recognises Crypto as Property: What This Means for Indian Investors
In a landmark ruling, the Madras High Court has recognised cryptocurrency as property under Indian law. The judgment provides legal clarity for investors and businesses, affirming that digital assets like Bitcoin and Ethereum can be owned and transferred. While experts call it a milestone for India’s crypto ecosystem, concerns remain over the abs...
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WazirX Reopens Trading Over a Year After Hack, Crypto Exchange to Restart in Phased Manner
WazirX has resumed trading after over a year, starting a phased rollout from October 24 with zero trading fees for 30 days. Industry leaders called the move a defining moment for India’s crypto sector, noting it could help restore investor trust. Some users have reported withdrawal delays, though WazirX previously outlined a 10-day timeline for c...
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Singapore Court Approves WazirX Restructuring Plan Following $234 Million Hack
The Singapore High Court has approved WazirX’s revised restructuring plan following the $234 million hack in 2024. The ruling enables the exchange to restart operations and repay over 150,000 users through recovery tokens. The hack, traced to North Korea’s Lazarus Group, forced a halt in withdrawals. The decision marks a key step toward restori...
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WazirX Parent Zettai Urges Singapore Court to Review WazirX Restructuring, Extend Moratorium
Zettai, the parent company of crypto exchange WazirX, has approached the Singapore High Court seeking a reassessment of its financial restructuring plan. The filing also requests an extension of the ongoing moratorium, which has protected both Zettai and WazirX from creditor lawsuits while the company works on its reimbursement strategy.
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WazirX Restructuring Plan Rejected By Singapore High Court; Crypto Firm to Appeal Decision
WazirX users affected by the $230 million (roughly Rs. 1,970 crore) hack are set to face further delays before their money is reimbursed. On Wednesday, the Singapore High Court rejected the crypto exchange's restructuring scheme, despite it receiving approval from creditors in April. WazirX requires the court's permission to execute the restructuri...
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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's Restructuring Scheme Approved by Over 93 Percent Creditors, Refunds to Start Soon
WazirX's proposed restructuring scheme has been approved by majority voters, Zettai announced on Monday, April 7. Zettai stated that 141,476 creditors took part in the voting process out of which 131,659 creditors approved the scheme.
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WazirX Partners With BitGo for Asset Custody Services Amid Ongoing Financial Restructuring
On Wednesday, March 12, WazirX announced BitGo as its official asset custodian. Through this partnership, WazirX will leverage BitGo’s institutional-grade infrastructure, multi-signature wallets, and insurance coverage of up to $250 million (approximately Rs. 2,180 crore) to restore community trust.
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WazirX Says Asset Rebalancing Complete, Invites Creditors to Raise Disputes
On February 10, WazirX announced the completion of its Net Liquid Platform Assets (NLPA) rebalancing, aligning token denominations with its assets and liabilities. The exchange has introduced three new tabs on its app and website, allowing users to view their rebalanced portfolio, their balance as of July 18, 2024, and the preliminary creditor list...
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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 Hack: Zettai Requests Court Approval to Present Restructuring Plan for Creditor Vote
Zettai announced that it has filed an application with the court seeking permission to convene a meeting with its creditors. The meeting aims to present a proposed restructuring scheme and secure creditor approval through a vote.
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WazirX's Nischal Shetty Aims to Build India's Largest Decentralised Exchange Within 12 Months
This week, WazirX hosted a virtual town hall where founder Nischal Shetty shared that he is considering launching a decentralised exchange (DEX) to complement the existing WazirX platform. According to Shetty, a DEX could help mitigate the risks associated with centralised exchanges.
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Madras High Court Recognises Crypto as Property: What This Means for Indian Investors
In a landmark ruling, the Madras High Court has recognised cryptocurrency as property under Indian law. The judgment provides legal clarity for investors and businesses, affirming that digital assets like Bitcoin and Ethereum can be owned and transferred. While experts call it a milestone for India’s crypto ecosystem, concerns remain over the abs...
-
WazirX Reopens Trading Over a Year After Hack, Crypto Exchange to Restart in Phased Manner
WazirX has resumed trading after over a year, starting a phased rollout from October 24 with zero trading fees for 30 days. Industry leaders called the move a defining moment for India’s crypto sector, noting it could help restore investor trust. Some users have reported withdrawal delays, though WazirX previously outlined a 10-day timeline for c...
-
Singapore Court Approves WazirX Restructuring Plan Following $234 Million Hack
The Singapore High Court has approved WazirX’s revised restructuring plan following the $234 million hack in 2024. The ruling enables the exchange to restart operations and repay over 150,000 users through recovery tokens. The hack, traced to North Korea’s Lazarus Group, forced a halt in withdrawals. The decision marks a key step toward restori...
-
WazirX Parent Zettai Urges Singapore Court to Review WazirX Restructuring, Extend Moratorium
Zettai, the parent company of crypto exchange WazirX, has approached the Singapore High Court seeking a reassessment of its financial restructuring plan. The filing also requests an extension of the ongoing moratorium, which has protected both Zettai and WazirX from creditor lawsuits while the company works on its reimbursement strategy.
-
WazirX Restructuring Plan Rejected By Singapore High Court; Crypto Firm to Appeal Decision
WazirX users affected by the $230 million (roughly Rs. 1,970 crore) hack are set to face further delays before their money is reimbursed. On Wednesday, the Singapore High Court rejected the crypto exchange's restructuring scheme, despite it receiving approval from creditors in April. WazirX requires the court's permission to execute the restructuri...
-
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's Restructuring Scheme Approved by Over 93 Percent Creditors, Refunds to Start Soon
WazirX's proposed restructuring scheme has been approved by majority voters, Zettai announced on Monday, April 7. Zettai stated that 141,476 creditors took part in the voting process out of which 131,659 creditors approved the scheme.
-
WazirX Partners With BitGo for Asset Custody Services Amid Ongoing Financial Restructuring
On Wednesday, March 12, WazirX announced BitGo as its official asset custodian. Through this partnership, WazirX will leverage BitGo’s institutional-grade infrastructure, multi-signature wallets, and insurance coverage of up to $250 million (approximately Rs. 2,180 crore) to restore community trust.
-
WazirX Says Asset Rebalancing Complete, Invites Creditors to Raise Disputes
On February 10, WazirX announced the completion of its Net Liquid Platform Assets (NLPA) rebalancing, aligning token denominations with its assets and liabilities. The exchange has introduced three new tabs on its app and website, allowing users to view their rebalanced portfolio, their balance as of July 18, 2024, and the preliminary creditor list...
-
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.
-
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.
-
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.
-
WazirX Hack: Zettai Requests Court Approval to Present Restructuring Plan for Creditor Vote
Zettai announced that it has filed an application with the court seeking permission to convene a meeting with its creditors. The meeting aims to present a proposed restructuring scheme and secure creditor approval through a vote.
-
WazirX's Nischal Shetty Aims to Build India's Largest Decentralised Exchange Within 12 Months
This week, WazirX hosted a virtual town hall where founder Nischal Shetty shared that he is considering launching a decentralised exchange (DEX) to complement the existing WazirX platform. According to Shetty, a DEX could help mitigate the risks associated with centralised exchanges.
