After months of uncertainty, WazirX users may finally be getting some long-awaited answers. The Singapore court WazirX ruling, expected by June 20, could decide the fate of over $235 million in frozen user funds. For many, it’s been a frustrating ride, filled with delays, legal jargon, and missed updates. But now, a new repayment plan is on the table, and hope is cautiously returning to the community
What Happened? A Quick Recap
Back in July 2024, hackers siphoned funds from WazirX, forcing the exchange offline; since then, the Singapore court WazirX docket has ballooned with competing “scheme of arrangement” proposals from parent company Zettai PTE LTD.
June 20: A Make‑or‑Break Deadline
After dismissing two earlier drafts, the High Court gave Zettai until 20 June to file a revamped repayment blueprint, widely viewed as the last chance for the Singapore court WazirX drama to avoid compulsory liquidation.
If the new proposal fails to secure a simple‑majority vote from affected creditors (conducted electronically), the Singapore court WazirX proceeding could shift into a protracted appellate battle that might keep withdrawals locked well into 2026.
Voices From the Ground
“As we shared last week, the Singapore Court has declined Zettai’s application… while we understand this news may bring disappointment to our users, we are committed to a revised scheme,” — @WazirXIndia on X (formerly Twitter).
Community member Aarti Gupta told Coinpedia that “the uncertainty is exhausting,” adding that she checks the Singapore court WazirX filings daily for hope.
WRX Token Performance Amid the Court Saga
WRX, the exchange’s native token, trades near US $0.023, down 99 % from its 2021 peak. Yet the price graph above shows a 10 % uptick in the week leading to the latest Singapore court WazirX hearing, reflecting speculative bets on a successful payout.
What Happens if the Plan Passes?
Zettai says that, upon approval, liquid assets will be distributed within ten business days and “recovery tokens” issued for any shortfall, to be bought back over three years, an arrangement that would let the Singapore court WazirX file close while judges retain oversight of token retirements.
The Turning Point: A Courtroom Decision
The upcoming Singapore court WazirX ruling isn’t just about unlocking frozen funds; it could set a legal precedent for how crypto exchanges handle hacks and insolvency. With over 4.4 million users affected and a recovery plan including cash payouts and “recovery tokens,” the decision carries weight far beyond WazirX.
If approved, the scheme may become a model for how digital asset platforms can rebuild trust after catastrophic losses. However, if it fails, users could face years of delays through liquidation proceedings. For many, this courtroom moment marks a critical crossroads between recovery and ruin.
Conclusion
With billions at stake and regulatory precedent on the line, the coming week will reveal whether the Singapore court WazirX saga becomes a blueprint for post‑hack recoveries or a cautionary tale of drawn‑out insolvency.
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FAQs
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When will we know the verdict?
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The written judgment is expected on 20 June, and the Singapore court WazirX docket will publish it the same day.
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How much of my balance could I get back?
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The current plan targets 75 – 80 % (liquid assets plus recovery tokens), but actual recovery depends on court approval and future profits.
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What if the plan is rejected?
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A fresh appeal would restart the Singapore court WazirX timetable, potentially prolonging the freeze for another year or more.
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Will trading resume immediately after the payout?
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Zettai has indicated that trading would relaunch only after initial distributions and internal security audits conclude.
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Is the WRX price directly linked to the ruling?
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While WRX often rallies on positive headlines, market sentiment, liquidity, and broader crypto trends also drive price moves.
Glossary of Key Terms
| Term | Definition |
|---|---|
| Scheme of Arrangement | A court‑supervised restructuring plan requiring creditor approval. |
| Moratorium | Legal freeze preventing lawsuits or asset seizures during restructuring. |
| Recovery Token | Digital IOU representing residual claims, to be bought back over time. |
| Creditor Meeting | Vote where affected users decide whether to accept the scheme. |
| Liquidation | Court‑ordered sale of assets to repay creditors when restructuring fails. |
