Singapore Court Delays WazirX Payouts, Seeks More Proof

The long wait goes on for WazirX users. On May 13, 2025, the Singapore High Court heard the exchange’s application for restructuring (SUM 940). But repayment approval was not forthcoming. Instead, the court directed that further affidavits be filed and gave WazirX time until May 23 to do so. The court also extended the current moratorium period till June 6.

With this hearing, pivotal developments unfolded for thousands of users still waiting for the return of monies following the hack on July 18, 2024. Considered the largest crypto heist involving association with attack, the perpetrators drained over ₹2,000 crore (close to $230 million) from the crypto space, forcing WazirX to freeze user accounts and suspend trading. Since then, users have been placed in a limbo hoping for a resolution.

Recovery Plan Receives Strong User Support

WazirX had proposed a recovery plan in the earlier months of this year and filed it with the courts in Singapore. The company alleged that the recovery plan had gained support from 93.4% of users. According to WazirX, from the time of approval by the court onwards, the user shall be paid 85% of their holdings, taking balance immediately before the hack into account.

They further promised to commence repayment within 10 business days upon approval from the court. For a brief second, relief seemed a reachable solution for the users.

Still Another Setback for WazirX Users

The expectations regarding the timeline have somehow been disrupted by this new court order. The judge has not set a new hearing date, but the new affidavits will be reviewed first. After reviewing the affidavits, the court will proceed accordingly. This is yet another delay that takes away certainty from the affected users, who have all been waiting for almost a year.

Conclusion: No Date Has Been Finalized for the Payout

WazirX appears to be doing everything it can to expedite this process. However, with no green light granted and no hearing date on the calendar, this keeps users caught in limbo again. At least for now, all they can do is wait in anxious hope that this next update from the court finally will bring some substance and not be a footnote in delay history yet again.