Singapore’s High Court approves Zettai Pte. Ltd.’s plan to restructure, allowing Indian crypto exchange WazirX to reopen following a major hack. The plan received overwhelming support from creditors, with platform operations expected to resume within 10 days, possibly before the end of October.

Users affected by the hack will regain platform access and receive initial distributions post-restart. WazirX will collaborate with BitGo to enhance asset protection, aiming to rebuild user trust and meet regulatory standards. Plans include launching a decentralized exchange, issuing recovery tokens, and conducting buybacks with platform profits.

WazirX users lost over $230 million in a security breach attributed to the Lazarus Group in July 2024. The hacker laundered funds through Tornado Cash, complicating recovery efforts. Despite challenges, WazirX continues to work towards recovering the stolen funds.

Read more at Yahoo Finance: WazirX Restructuring Cleared in Massive Relief for $230M Hack Victims