WazirX Hack Victims Await Court’s Green Light

After a year of silence and frustration, stakeholders of WazirX may finally receive some clarity. The restructuring plan of this crypto exchange will be heard in the Singapore High Court on May 13, 2025. If in favor, long-time await fund recovery could commence.

Huge Hack Leaves Users Stranded

This was triggered on July 18, 2024, when a huge security breach took place at WazirX Exchange. Hackers targeted the exchange and went away with crypto assets worth over ₹2,000 crore ($230 million). In response, the exchange froze more than half of users’ assets, worth some ₹2,500 crore, and suspended all trading. Since then, users find themselves unable to retrieve their assets and have not had much communication from the platform.

The Restructuring Plan Stays Supported

The restructuring plan was entered by WazirX before the Singapore High Court early in 2025. It explains how the exchange intends to repay victims. According to WazirX, 93.4% of users voted for the plan. It pledges to return 85% of users’ holdings based on account balance during the hack.

According to WazirX’s announcement, once approved by the Court, the first payout could already be made within 10 business days. This gives several possible timelines for users—and hope that they will soon regain access to most funds.

Uncertainty Still Looms

Despite the progress, concerns remain. The remaining 15% of user funds still have no date set for confirmed recovery. Many users remain critical of the exchange for handling the breach, its delayed communications, and even at times questioned the transparency of the recovery process itself.

The filing and the vote are momentum, but for many, the full resolution remains out of reach.

Another Step Closer to Closure

Given that tomorrow’s court visit is not just a procedural matter, it may mark the first actual step toward justice for WazirX users. While not all losses will be compensated immediately, the approval of the restructuring plan would mean a step forward in a process that has left thousands in financial and emotional limbo.

For a community begging for answers, one hopes that May 13 will be a date closer to closure.