WazirX files moratorium application in Singapore Court

Singapore-based Zettai, the holding company of cryptocurrency exchange platform WazirX, has filed an application with the Singapore High Court for a moratorium under section 64 of the Insolvency, Restructuring and Dissolution Act 2018. This is to facilitate the company’s intention to restructure its liabilities under a scheme of arrangement. Crypto exchange WazirX on Wednesday informed in a blog post that this step has been taken to address users’ cryptocurrency balances on the platform following the cyberattack and theft of crypto tokens from the platform.