It’s been almost a year since WazirX users lost access to their funds, and tomorrow could finally bring some much-needed answers. The Singapore High Court will hear the exchange’s restructuring plan on May 13, 2025. This could be the first step toward getting users’ stolen funds back.
The hack happened on July 18, 2024, when over ₹2,000 crore (around $230 million) worth of crypto was stolen. Once India’s largest crypto exchange, WazirX, froze more than half of its users’ funds, leaving 55% of user funds, worth around Rs 2500 crore, and suspended trading. Since then, users have been left in the dark, unsure when, if ever, they’d get their money back.
Since then, WazirX has slowly tried to put together a recovery plan. In early 2025, they approached the Singapore court with a restructuring proposal. A few weeks ago, WazirX said that 93.4% of users voted in favor of the plan.
According to the exchange, once the court approves it, users will start receiving 85% of their holdings back, based on the amount they had during the hack.
The company says the first payouts could begin within 10 business days after the court gives its approval.
While tomorrow’s hearing gives hope, it doesn’t mean the end of the story. The remaining 15% of user funds still have no clear recovery date, and many users continue to question how things were handled after the hack.
Still, for a community that’s been left in the dark for months, the court’s decision tomorrow could finally open the door to closure—and maybe a bit of justice.
After all the waiting, this may be the first real step forward.
Also Read: Rise and Fall of WazirX: Mapping India’s Biggest Crypto Hack
