Singapore court grants WazirX 4-month moratorium after Rs 2,000-cr hack

A Singapore court has granted cryptocurrency exchange WazirX a four-month moratorium, allowing it to restructure liabilities in the aftermath of the cyber attack that wiped out nearly Rs 2,000 crore, accounting for 45% of its users’ assets.

The court’s decision comes with certain conditions, aimed at maintaining transparency and restore confidence of investors and creditors. As part of the conditions, WazirX will have to make wallet addresses public via a court affidavit, respond to user queries raised in the courtroom, release financial information and ensure future voting for court applications is scrutinised by independent parties.