WazirX Restructuring Approved: Exchange to Restart Within 10 Days
- WazirX is set to reopen within 10 business days after filing with Singapore’s ACRA.
- Court-approved restructuring allows WazirX to move forward with user fund recovery.
- WazirX users can claim recovery tokens proportionate to their losses from the 2024 hack.
WazirX, the Indian cryptocurrency exchange, is set to reopen within 10 business days. The reopening follows a court-approved restructuring scheme filed with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) on October 15, 2025. This marks a significant milestone in the recovery process after the exchange’s operations were halted due to a major hack and liquidity crisis.
The Singapore High Court approved WazirX’s plan of restructuring on October 13, 2025. The court cleared the way for the platform to recover. With the filing made with ACRA, now the plan is in action, which would enable WazirX to resume services in front of millions of its users.
CEO Nischal Shetty confirmed the team is working to restart the platform within the next 10 business days. Once the platform is ready, the exact date for the reopening will be announced. The company is focused on finalizing all necessary preparations to ensure a smooth restart.
WazirX Restructuring Plan to Recover Funds for Users
The restructuring plan was first proposed on July 23, 2025. It was amended slightly before the court approved it. A notable amendment shields WazirX officers against claims for carrying out the plan unless such liability arises from fraud, willful misconduct, or gross negligence.
For WazirX’s 16 million users, the vast majority of whom are in India, this is a relief. The plan pledges to recoup 55% of the $235 million stolen in the hack. Funds would be distributed through Zettai Pte Ltd, based in Singapore. Users would be eligible to receive payments in USDT 10 working days after the scheme became effective.
A filing with the ACRA is a turning point for users who have waited more than one year. Most have been left wondering if they would ever get their missing assets back. In addition to the filing, they would now have confidence that there is finally some movement and hope to see a recovery for some of their losses.
WazirX Offers Recovery Tokens to Users Affected by 2024 Hack
WazirX was the biggest cryptocurrency exchange in India by trading volume at one point. The platform had been forced to pause its operation after the hack in 2024. The attack, along with the liquidity shortage, drove the company to the brink of bankruptcy. WazirX has since been trying to rebuild itself under the jurisdiction of Singapore.
Those who had funds on the exchange at any point before it was hacked, July 18th, 2024, are entitled to recovery tokens. These tokens allow users to stake other currencies in order to claim some of the platform’s future revenues as well as reclaimed stolen funds. They would be paid according to approved claims.
Related: WazirX Gets Singapore Court Approval to Resume Operations
The hack involved funds being laundered through Tornado Cash. That made it more difficult for WazirX to retrieve the assets in full. The company has had little success recovering the funds, but has been able to trace where some of the stolen tokens ended up.
Users get a glimmer of hope from WazirX’s rehaul and upcoming restart. After months of uncertainty, the exchange is at last making overtures to reopening.
The platform’s recovery has been arduous and complicated. The restructuring scheme has now cleared the way for a fresh start. Now the future for WazirX lies in piecing its user base back together and rebuilding confidence with customers on its platform.
