WazirX Users Rejoice: Finally, $235M Recovery Plan Gets Court Approval! đź’°

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Well, well, well. After what must have felt like an eternity, the long-suffering users of WazirX can finally exhale. On October 13, 2025, the Singapore High Court graciously approved the exchange’s restructuring plan. A grand total of $235 million (₹2,000 crore) has been lying in wait since the infamous hack of July 18, 2024. And now, users can hope to recover up to 55% of that amount. How exciting! 🍾

The road to this glorious moment has been nothing short of dramatic. WazirX’s initial plan? A no-go. But don’t worry-after an intense revote, over 95% of creditors rallied behind the new plan. Can’t blame them, really. I mean, who doesn’t love a good comeback story? The recovery will be managed by Singapore-based Zettai Pte Ltd, and users should see payouts in USDT within the next 10 business days. This is a monumental moment for WazirX’s 16 million users, most of whom are based in India. After more than a year of holding their breath, they may just finally be able to breathe again. 🏖️

CEO Nischal Shetty Offers His Heartfelt Thanks

And what’s this? WazirX’s CEO Nischal Shetty took to X to send his deepest gratitude to the long-suffering community. Apparently, this court victory was all thanks to the users’ unwavering support. Because nothing says “we’re here for you” quite like a post on social media, right? Shetty, ever the optimist, assures everyone that the next phase is all about rebuilding trust and creating value. Big promises, but let’s hope he delivers.

“Thank you to everyone who supported this difficult phase of WazirX. The Singapore High Court has approved the scheme. It’s your support and love that has made this possible. Now we set out on the next phase to work hard and create value for everyone. We’re here because of YOU,” Shetty humbly wrote. Well, that’s nice. 🙏

WRX Token Surges Like a Rocket 🚀

And in case you’re wondering, the WRX token is having its own little victory lap. Following the announcement, the token shot up nearly 21% in a single day. As of the latest update, it’s trading at a modest $0.05513, with a market cap of $21.05 million and an unlocked market cap of $54.03 million. 🤑

Its 24-hour trading volume also saw a healthy boost of 26.22%, reaching a respectable $83.36K. Could WazirX be staging a comeback? Only time will tell. ⏳

Withdrawals: Still No Date, But Hope Springs Eternal

Now, here’s the catch-withdrawals, although expected to start 10 days after the court’s approval, are still waiting for a concrete date. But hey, let’s not focus on the small details. The fact that this recovery process is finally moving toward a resolution after over a year of uncertainty is, in itself, a victory for the ages. 🎉

WazirX now faces the unenviable task of executing payouts while staying on the good side of regulators, all the while giving users a glimmer of hope that they might actually see some of their funds again. But can they do it? Only time will tell-stay tuned for the next thrilling installment. 🍿

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2025-10-13 12:21