With the ACRA submission complete, the exchange enters the implementation phase, or a period during which users will receive distributions and Recovery Tokens (RTs) under the scheme.
By Shaurya Malwa|Edited by Stephen Alpher
Updated Oct 16, 2025, 12:12 p.m. Published Oct 16, 2025, 11:35 a.m.
- Indian crypto exchange WazirX will reopen within 10 business days following the court-approved restructuring scheme filed with Singapore’s ACRA.
- Over 95% of creditors supported the restructuring plan, which was sanctioned by the High Court of Singapore.
- WazirX’s reopening follows a $240 million hack and bankruptcy, with users set to receive Recovery Tokens based on their claims.
Indian crypto exchange WazirX is set to reopen within the next 10 business days after formally filing its court-approved restructuring scheme with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) on October 15, marking the final step in its recovery process.
The filing follows the High Court of Singapore’s sanction of the restructuring plan last week, which saw over 95% of creditors vote in favor, it said in an X post.
STORY CONTINUES BELOW
With the ACRA submission complete, the exchange enters the implementation phase, or a period during which users will receive distributions and Recovery Tokens (RTs) under the scheme.
The restart comes over a year after WazirX was hacked for over $240 million worth of various tokens, pushing the exchange to bankruptcy.
WazirX was once India’s largest crypto exchange by volume, but operations were halted after the cyberattack and subsequent liquidity shortfall in early 2024. The firm has since navigated a recovery under Singapore jurisdiction, where its parent company is domiciled.
Users who had assets on the exchange before the July 18, 2024, hack are eligible to receive the RTs on a pro-rata basis, based on their approved claim. These are supposed to give users a claim on a percentage of the platform’s future revenue, any recovered stolen funds, and future profits.
The hacker laundered all the stolen funds to various addresses using Tornado Cash to obscure the transactions, as CoinDesk reported in September 2024, dampening hopes of a full recovery. WazirX has since worked to recover the funds with limited success.
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