The Singapore Court recently held a hearing for the case SUM 940 involving WazirX on May 13, 2025. At this stage, no official orders or rulings were made, but the court has taken significant procedural steps. The company has been directed to file further affidavits by May 23, 2025.
This indicates that additional documentation or clarifications are required from WazirX before the court can proceed with any decisions or orders in the case.
Additionally, the court has extended the existing moratorium, which temporarily halts any legal or financial actions against the company, until June 6, 2025.
Moratorium Grants WazirX Breathing Room to Fulfill Legal Duties
The moratorium provides WazirX with more time to comply with legal obligations and address any outstanding issues in the case without facing immediate enforcement actions.
This extension could provide the company with the necessary breathing room to resolve the matter or negotiate a settlement.
While this hearing has not yet produced a final outcome, the extension and the order for further affidavits suggest that the legal proceedings are still ongoing, and additional time will be needed to evaluate the situation thoroughly.
The outcome of the case could have significant implications for WazirX, particularly regarding its operations in Singapore and potential impacts on its legal standing.
Also Read: WazirX Prepares To Restart Exchange And Payouts After $234M Hack
Next Steps in SUM 940 Await Court Review of WazirX’s Affidavit Submission
The Singapore Court has not scheduled another hearing for the SUM 940 case yet. Any decision regarding the case, including whether another hearing is required, will depend on the court’s review of the affidavit(s) submitted by WazirX, which are due by May 23, 2025.
This means the next steps in the legal process will likely be determined after the court has received and assessed the required documents.
The company understands the anticipation surrounding the platform’s restart and the first distribution, and it has assured users that efforts are being made to ensure the restart happens effectively under the court-approved scheme.
WazirX has emphasized its commitment to keeping users updated as soon as new developments or directions from the court are received. This ongoing communication will provide clarity on the situation and the steps ahead, as the platform works to resolve the case and restore its services.
Court Hearing Marks Key Milestone in WazirX’s ₹2,000 Crore Hack Recovery Effort
The most recent court hearing marks a significant turning point in WazirX’s efforts to reimburse users affected by the July 18, 2024, ₹2,000 crore attack.
Many users were left wondering if their money would be retrieved after WazirX, a once-dominant cryptocurrency exchange in India, stopped trading and frozen more than half of its users’ funds following the hack.
In early 2025, the company presented a recovery plan to a Singaporean court. WazirX announced a few weeks ago that 93.4% of its subscribers endorsed the plan, raising hopes for a settlement.
This court hearing is a crucial step in ensuring the plan is carried out, allowing WazirX to restore customer trust and refund user assets after the devastating incident.
Also Read: WazirX Announces Collaboration with BitGo to Enhance Security and Custodial Services for Users