WazirX creditors have overwhelmingly approved a restructuring plan aimed at repaying users following a significant $235 million hack attributed to North Korean hackers. Over 93% of creditors voted in favor of the arrangement, which is a critical step in the recovery process. The plan allows for partial repayments, with users expected to receive 75% to 80% of their claims, while the rest will be compensated through recovery tokens linked to WazirX's profits from a new decentralized exchange. The approval sets the stage for court sanction in Singapore amid frozen assets and previous trust issues. Without creditor support, WazirX warned that withdrawals might be delayed until 2030. Following the devastating hack in July 2024, which saw assets moved from multi-signature wallets to non-whitelisted addresses, WazirX has taken steps to improve its security and transparency. The robust backing from creditors shows a united belief in WazirX’s recovery strategy as they navigate this crisis.

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