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WazirX Restructuring Plan Heads to Court in January; Risk of Liquidation If Rejected
Zettai stated that it is awaiting Singapore Court approval to present its restructuring plan to creditors. It added that if the plan is not approved, WazirX’s only remaining option would be liquidation.
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WazirX Hack: Zettai Requests Court Approval to Present Restructuring Plan for Creditor Vote
Zettai announced that it has filed an application with the court seeking permission to convene a meeting with its creditors. The meeting aims to present a proposed restructuring scheme and secure creditor approval through a vote.
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WazirX's Nischal Shetty Aims to Build India's Largest Decentralised Exchange Within 12 Months
This week, WazirX hosted a virtual town hall where founder Nischal Shetty shared that he is considering launching a decentralised exchange (DEX) to complement the existing WazirX platform. According to Shetty, a DEX could help mitigate the risks associated with centralised exchanges.
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WazirX, Government Officials Meet Amid Probe Into Rs 2,000 Crore Crypto Hack: Report
Cryptocurrency exchange WazirX, which suffered a massive Rs 2,000 crore (about $234 million) cyber theft in July, is now facing scrutiny from top government agencies in the country.
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WazirX to Form Committee of Creditors by October 9 Amidst Restructuring Plans
WazirX has announced that it is in the process of forming a ‘Committee of Creditors (COC)’. In a blog post published on October 2, WazirX claimed that it aims to bridge the communication gap with its creditors.
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WazirX’s Moratorium Appeal Gets Four Months' Time from Singapore Court, Here’s What it Means
A Singapore court has granted WazirX a four-month moratorium period to complete its financial restructuring. In a press note released by the exchange on Thursday, September 26 it said that this action paves way for a legally binding resolution to restore WazirX’s crypto balances.
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WazirX’s Moratorium Plan Backed by Just 441 Users Amidst Widespread Social Media Backlash
In a recent affidavit, WazirX informed its users that only 441 have backed the moratorium appeal filed by its majority stakeholder, Zettai, in a Singapore court. WazirX also disclosed to Gadgets360 that it currently has two million monthly active users.
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WazirX Hacker Moves Millions Worth of ETH Using Tornado Cash, Suggests Arkham Research
Data collected by Arkham Research showed that the hacker who exploited the WazirX wallet for over $230 million (roughly Rs. 1,900 crore) is using the controversial Tornado Cash platform to do so. The exchange said it is working with law enforcement agencies and the CERT-In to identify the hacker.
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WazirX's Nischal Shetty Asks Users to Withdraw Available Funds as Full Recovery Unlikely
Nischal Shetty, co-founder of WazirX, informed Gadgets360 that individuals in urgent need of funds have begun withdrawing their INR balances from the platform. Officials also said that users affected by the recent hack may face challenges in recovering approximately 43 percent of the funds they had stored on WazirX.
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CoinSwitch Sues WazirX in Attempt to Recover $9.65 Million of Its Own Funds
In a detailed post published on X, CoinSwitch disclosed that two percent of its total funds — worth Rs. 810 crore (roughly Rs. 9.65 million) — were saved with WazirX, that are now stuck.
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WazirX’s Singapore-Based Stakeholder Zettai Applies for Moratorium to Restructure Funds
WazirX estimates that Zettai may take at least six months to stitch up a scheme, which if approved by the creditors and sanctioned by the Singapore Court, “would be legally binding on all relevant parties, including Zettai.” The platform needs this time to finalise the terms and conditions of this financial restructuring scheme.
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WazirX Opens INR Balance Withdrawals, Users Can Access 66 Percent of Funds
In a statement released over the weekend, the exchange said it is resuming INR withdrawals starting Monday, August 26. It is, however, noteworthy that WazirX customers will only be able to access and withdraw 66 percent of their funds while the remaining 34 percent will remain frozen due to ongoing investigations into the incident.
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How India's Biggest Crypto Theft Worth Rs 2,000 Crore Was Executed
In what has been the biggest crypto theft in India so far, cryptocurrencies worth nearly Rs 2,000 crore, or $230 million, were stolen from a wallet linked to the WazirX exchange last month.
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WazirX to Reset User Portfolios to Pre-Hack Status: All Trades Post July 18 to Be Nullified
WazirX has announced that it will restore user portfolios based on their status as of July 18. This decision effectively cancels all trades made between July 18 and July 21. The exchange stated that this approach is intended to ensure fairness in the portfolio restoration process.
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CoinDCX Announces Rs. 50 Crore Investor Protection Fund Following WazirX Hack
CoinDCX crypto exchange has launched a crypto investor protection fund (CIPF) worth Rs. 50 crores. Announcing the CIPF, CoinDCX co-founder Sumit Gupta said that this dedicated fund will provide an additional layer of protection, ensuring that our customers' assets remain secure.
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WazirX Restructuring Plan Heads to Court in January; Risk of Liquidation If Rejected
Zettai stated that it is awaiting Singapore Court approval to present its restructuring plan to creditors. It added that if the plan is not approved, WazirX’s only remaining option would be liquidation.
-
WazirX Hack: Zettai Requests Court Approval to Present Restructuring Plan for Creditor Vote
Zettai announced that it has filed an application with the court seeking permission to convene a meeting with its creditors. The meeting aims to present a proposed restructuring scheme and secure creditor approval through a vote.
-
WazirX's Nischal Shetty Aims to Build India's Largest Decentralised Exchange Within 12 Months
This week, WazirX hosted a virtual town hall where founder Nischal Shetty shared that he is considering launching a decentralised exchange (DEX) to complement the existing WazirX platform. According to Shetty, a DEX could help mitigate the risks associated with centralised exchanges.
-
WazirX, Government Officials Meet Amid Probe Into Rs 2,000 Crore Crypto Hack: Report
Cryptocurrency exchange WazirX, which suffered a massive Rs 2,000 crore (about $234 million) cyber theft in July, is now facing scrutiny from top government agencies in the country.
-
WazirX to Form Committee of Creditors by October 9 Amidst Restructuring Plans
WazirX has announced that it is in the process of forming a ‘Committee of Creditors (COC)’. In a blog post published on October 2, WazirX claimed that it aims to bridge the communication gap with its creditors.
-
WazirX’s Moratorium Appeal Gets Four Months' Time from Singapore Court, Here’s What it Means
A Singapore court has granted WazirX a four-month moratorium period to complete its financial restructuring. In a press note released by the exchange on Thursday, September 26 it said that this action paves way for a legally binding resolution to restore WazirX’s crypto balances.
-
WazirX’s Moratorium Plan Backed by Just 441 Users Amidst Widespread Social Media Backlash
In a recent affidavit, WazirX informed its users that only 441 have backed the moratorium appeal filed by its majority stakeholder, Zettai, in a Singapore court. WazirX also disclosed to Gadgets360 that it currently has two million monthly active users.
-
WazirX Hacker Moves Millions Worth of ETH Using Tornado Cash, Suggests Arkham Research
Data collected by Arkham Research showed that the hacker who exploited the WazirX wallet for over $230 million (roughly Rs. 1,900 crore) is using the controversial Tornado Cash platform to do so. The exchange said it is working with law enforcement agencies and the CERT-In to identify the hacker.
-
WazirX's Nischal Shetty Asks Users to Withdraw Available Funds as Full Recovery Unlikely
Nischal Shetty, co-founder of WazirX, informed Gadgets360 that individuals in urgent need of funds have begun withdrawing their INR balances from the platform. Officials also said that users affected by the recent hack may face challenges in recovering approximately 43 percent of the funds they had stored on WazirX.
-
CoinSwitch Sues WazirX in Attempt to Recover $9.65 Million of Its Own Funds
In a detailed post published on X, CoinSwitch disclosed that two percent of its total funds — worth Rs. 810 crore (roughly Rs. 9.65 million) — were saved with WazirX, that are now stuck.
-
WazirX’s Singapore-Based Stakeholder Zettai Applies for Moratorium to Restructure Funds
WazirX estimates that Zettai may take at least six months to stitch up a scheme, which if approved by the creditors and sanctioned by the Singapore Court, “would be legally binding on all relevant parties, including Zettai.” The platform needs this time to finalise the terms and conditions of this financial restructuring scheme.
-
WazirX Opens INR Balance Withdrawals, Users Can Access 66 Percent of Funds
In a statement released over the weekend, the exchange said it is resuming INR withdrawals starting Monday, August 26. It is, however, noteworthy that WazirX customers will only be able to access and withdraw 66 percent of their funds while the remaining 34 percent will remain frozen due to ongoing investigations into the incident.
-
How India's Biggest Crypto Theft Worth Rs 2,000 Crore Was Executed
In what has been the biggest crypto theft in India so far, cryptocurrencies worth nearly Rs 2,000 crore, or $230 million, were stolen from a wallet linked to the WazirX exchange last month.
-
WazirX to Reset User Portfolios to Pre-Hack Status: All Trades Post July 18 to Be Nullified
WazirX has announced that it will restore user portfolios based on their status as of July 18. This decision effectively cancels all trades made between July 18 and July 21. The exchange stated that this approach is intended to ensure fairness in the portfolio restoration process.
-
CoinDCX Announces Rs. 50 Crore Investor Protection Fund Following WazirX Hack
CoinDCX crypto exchange has launched a crypto investor protection fund (CIPF) worth Rs. 50 crores. Announcing the CIPF, CoinDCX co-founder Sumit Gupta said that this dedicated fund will provide an additional layer of protection, ensuring that our customers' assets remain secure.
