Crypto exchange WazirX has submitted additional affidavits to the Singapore High Court, as instructed during the last hearing held on May 13. The court had not approved the company’s restructuring plan at the time and instead asked for more documentation to be filed by May 23.
In the latest development, the court has extended the existing moratorium on claims and legal proceedings against WazirX until June 6.
The hearing was a crucial moment in WazirX’s attempt to restart its platform and begin repaying users who were affected by the ₹2,000 crore hack that hit the exchange on July 18, 2024.
In early 2025, the company moved to the Singapore court with a formal recovery plan. A few weeks ago, WazirX said that 93.4% of users supported the proposal. According to that plan, users were supposed to receive 85% of their funds based on their balances at the time of the hack, with repayments set to begin within 10 days of court approval.
However, the court has not yet approved the plan. It is reviewing the newly submitted affidavits and has not scheduled the next hearing. This means users will have to wait longer for the recovery process to begin.
In a statement on X, WazirX said, “We’ve filed the additional affidavit(s) with all the documents as directed by the Singapore Court during the hearing on 13 May 2025. We understand the community’s anticipation around the platform restart and first distribution. Please know that we’re moving forward in line with the legal process and will continue to share timely updates as we receive directions from the court.”
Despite the legal delay, the exchange’s native token, WRX, has seen a sharp rise in price. As of today, WRX has jumped 11.46% in the last 24 hours and is now trading at $0.0318.
Trading activity has picked up too, with daily volume rising 59.37% to around $124,000. The token’s market cap is currently $12.14 million, and if all tokens were unlocked, it would be worth about $31.5 million.
