Cryptocurrency exchange WazirX has reached a key milestone in its recovery by obtaining formal approval from the Singapore High Court for its restructuring plan, WazirX founder Nischal Shetty said in a post on X.
The ruling allows the Indian platform to begin token-based distributions and work to reactivate its platform, more than a year after a catastrophic hack drained $234 million from its wallets.
The attack, which has been attributed to North Korea's Lazarus group, forced the platform to undertake a complex legal process that has now culminated in this court-sanctioned roadmap for reimbursement.