- Singapore Court demands revised affidavit from WazirX creditors by deadline.
- WazirX users reassured, no action needed amid ongoing legal battles.
- Cyberattack fallout delays WazirX’s recovery plan and platform restart.
The Singapore High Court has instructed creditors in the ongoing WazirX case to submit a revised expert affidavit after the initial filing failed to meet the court’s requirements. The affidavit, submitted by the “Relevant Non-Parties,” was found to be non-compliant with earlier court directions.
The court has set a firm deadline for the new affidavit, requiring it to be filed by 12 p.m. Singapore Time (SGT) on September 19, 2025. Should it be submitted on time, WazirX’s parent company, Zettai Pte Ltd, must submit a response by 2 p.m. SGT on September 22, 2025. Both sides are also required to file written legal arguments by 2 p.m. SGT on September 26, 2025.
WazirX posted an update on X, assuring users that these steps apply only to the Relevant Non-Parties and Zettai. Regular users do not need to take any action at this point. The company emphasized its commitment to updating the community as new developments unfold, particularly regarding the platform’s planned restart.
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WazirX’s Legal and Financial Troubles Continue Amid Cyberattack Fallout
WazirX’s legal challenges stem from a significant cyberattack in July 2024, in which the North Korean hacking group Lazarus stole approximately $234 million from the platform’s wallets. In response, Zettai Pte Ltd proposed a restructuring plan to compensate affected users with a combination of cash distributions and recovery tokens.
Initially approved by the Singapore High Court in January 2025, the plan was later rejected in June due to concerns about its structure and transparency. The court permitted a revote on the amended plan and extended the moratorium on creditor claims until September 16, 2025. However, WazirX has warned that failure to approve the restructuring plan could lead to repayment delays as far out as 2030.
The uncertainty surrounding the case continues to affect WazirX’s future and its ability to restart operations. The legal outcome will play a crucial role in determining the platform’s ability to regain user trust and resolve financial issues.
WazirX’s Ongoing Efforts to Recover and Restructure
Despite the setbacks, WazirX remains committed to compensating its affected users and restructuring the platform. In its update, the company highlighted the progress of the restructuring plan, which, if approved, would involve both financial compensation and a series of recovery tokens for users impacted by the hack. The company also made it clear that no action is required from regular users at this time, though they have expressed a continued effort to provide updates as new dates are set.
However, the delay in finalizing the restructuring plan has affected WazirX’s ability to restart its operations. Users are anxiously awaiting confirmation of the next hearing date, as the ongoing legal and financial uncertainties continue to cloud the platform’s future.
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