Singapore court grants 4-month moratorium to WazirX after $230 mn hack

A Singapore court on Thursday granted a four-month moratorium to Indian cryptocurrency exchange WazirX, a period which the embattled firm will use to restructure its business without worrying about legal proceedings.

A moratorium offers applicant temporary relief from legal proceedings.

WazirX, India’s biggest crypto exchange, suffered a major hacking attack in July this year losing close to $230 million. Since then, it has been trying to deal with the crisis.