The High Court of Singapore has approved the restructuring plan for the cryptocurrency exchange WazirX, which suffered from a $235 million cyberattack by Lazarus. The plan, submitted by the parent company Zettai, proposes to return 75-80 percent of the funds to users through the distribution of recovery tokens. Voting among users will begin within three months, and if the plan is approved, payments will be made within 10 days. No evidence of wrongdoing by WazirX was found during the court hearing. The exchange has also frozen $3 million USDT for recovery, collaborating with authorities in the USA, Japan, and South Korea to retrieve additional assets.
1/23/2025 1:59:40 PM (GMT+1)
The High Court of Singapore has approved WazirX's restructuring plan to compensate 75-80 percent of user funds via tokens after the $235 million Lazarus cyberattack 🏛️
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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