Singapore High Court Sanctions WazirX Restructuring Scheme, Paving Way for Restart and Repayments

Market Context

This decision comes after WazirX suffered one of the largest crypto hacks in recent history, losing roughly $234.9 million in July 2024. Since then, the exchange has been navigating legal and financial challenges, including multiple versions of restructuring plans and creditor votes. The court’s approval marks a major milestone toward restoring trust and recovering user assets.

Technical Details with Attribution

• In August 2025, 95.7% of voting creditors (representing 94.6% in value) approved the revised restructuring scheme. 
• The approved plan includes a mix of cash/crypto payouts and recovery tokens tied to future earnings of the platform. 
• After the scheme becomes legally effective, WazirX plans to relaunch platform operations within 10 business days and begin token distributions to creditors. 
• The parent company will file the court order with Singapore’s Accounting & Corporate Regulatory Authority (ACRA) before the scheme’s terms take effect. 

Analyst Perspectives 

Analysts consider the court’s sanction as a positive but not conclusive step. It demonstrates legal validation, yet actual user recoveries and operational restarts will test the resilience and execution of the plan. Some stress that time frames, asset valuation, token distribution fairness, and user confidence will determine if this restructuring truly succeeds. Others caution that complications could arise, especially given the cross-jurisdictional nature of crypto assets and regulatory scrutiny.

Global Impact Note

This ruling sets a potential precedent in how courts may handle large crypto exchange failures and recovery efforts. If WazirX’s restructuring is executed transparently and fairly, it could influence how other exchanges approach insolvency, creditor claims, and restoration of operations. International investor confidence—and regulatory approaches—may be influenced by this outcome.