WazirX, an Indian crypto exchange hacked for $234 million in July 2024, is set to restart operations pending a May 13 court decision regarding its restructuring and user compensation plan. If approved by Singapore’s High Court, parent company Zettai PTE Ltd could implement a compensation scheme for affected users within 10 business days. The court proceedings have delayed the process; however, Zettai has signaled that it has met all prior legal requirements. The exchange had temporarily halted withdrawals following the cyberattack. A restructuring plan involving recovery tokens was previously favored by creditors, which could allow users to recoup 75% to 80% of their account balances at the time of the attack. Meanwhile, a separate petition filed by hack victims seeking legal recourse was dismissed by India’s Supreme Court, which advised petitioners to seek redress from regulatory bodies instead.

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