The Singapore Excessive Court docket has directed opposing collectors within the WazirX case to submit a brand new knowledgeable affidavit below Indian legislation after their earlier submitting was discovered non-compliant. The directions have been issued throughout a listening to on September 3 in case HC/SUM 940/2025. Notably, the WazirX staff known as consideration to the event in a tweet right now.
Court docket Directives and Deadlines
On the listening to, the court docket dominated that the knowledgeable affidavit submitted by sure collectors, known as the “Related Non-Events,” didn’t meet its earlier necessities and have to be changed. The alternative affidavit is due by September 19, 12 p.m. SGT (9:30 a.m. IST).
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If filed on time, Zettai Pte Ltd (WazirX’s Singapore-registered father or mother) should file a reply affidavit by September 22, 2 p.m. SGT (11:30 a.m. IST). Either side are then required to submit written authorized arguments by September 26, 2 p.m. SGT (11:30 a.m. IST).
Notably, no follow-up listening to has but been scheduled. WazirX says these steps apply solely to the Related Non-Events and Zettai, and that common customers of the trade don’t have to take any motion presently.
“We’ll replace the neighborhood as quickly as the following listening to date is confirmed,” WazirX said in its replace. The corporate additionally acknowledged the eagerness of customers awaiting the restart of its platform and mentioned it stays dedicated to offering updates all through the method.
WazirX’s Publish-Hack Wrestle
WazirX, certainly one of India’s main cryptocurrency exchanges, suffered a serious cyberattack in July 2024 when the North Korean hacking group Lazarus drained roughly $234 million from its wallets.
In January, the Singapore Excessive Court docket initially authorized a restructuring plan proposed by WazirX’s father or mother firm, Zettai Pte Ltd, which included a mixture of money distributions and restoration tokens to compensate affected customers.
Nonetheless, the court docket later declined to sanction the scheme in June, citing considerations over its construction and disclosure. WazirX subsequently obtained permission for a revote on an amended scheme, and the court docket prolonged the moratorium on creditor claims via Sept. 16, 2025.
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The restructuring dispute has delayed compensation to customers and the deliberate restart of WazirX’s operations. WazirX beforehand warned that if restructuring plans weren’t authorized, repayments may be delayed till 2030.
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