Victims of the July 2024 WazirX crypto hack continue to face delays in receiving compensation. The Singapore High Court reviewed the company’s restructuring plan on May 13, 2025, but postponed a final decision.
The Court extended the moratorium on claims until June 6 and requested additional affidavits from WazirX by May 23. Cryptocurrency users have been waiting for quite some time without knowing when their assets will be returned.
According to WazirX, 93.4% of affected users supported the proposed plan. If approved, payment of up to 85% of stolen assets can be issued within ten days, according to the company.
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Users Still in the Dark Over Remaining Losses
Despite support for the plan, there is no timeline for recovering the remaining 15% of stolen funds. Many users remain worried that they will not be fully compensated for their losses.
The July 2024 breach, estimated at around ₹2,000 crore or $230 million, was one of the largest in India’s crypto history. Authorities believe that the Lazarus Group, a group from North Korea with ties to cyberattacks, was responsible for the attacks.
After receiving the notice, WazirX froze over half its users’ assets and put trading activity on hold. Many people using the site became confused and upset because they were locked out without advance notice.
Legal Delays Deepen User Frustration
The restructuring plan has offered a sense of hope, but delays in the legal process have dampened user confidence. For many, the wait for compensation has now stretched close to a year.
Some users have criticized the platform’s slow response after the hack. Others urge more transparency about when and how the remaining funds will be recovered.
As the next court deadline approaches, affected users are monitoring progress closely. The outcome of the upcoming filings could determine the next steps in the long-awaited recovery process.
While the plan to return most funds is in motion, court delays have prolonged the wait. For many victims still seeking answers, the full resolution remains uncertain.
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