The crypto exchange trying to patch things up after the $230 million hack last year, just got a big fat no from the Singapore High Court.

Yeah, the court declined their restructuring plan, throwing a wrench into their hopes of making things right for the people who lost out.

It’s like showing up to the office with a peace offering, only to have the boss slam the door in your face.

Fight

WazirX isn’t taking this lying down, though. They’re talking about appealing the decision, consulting their legal eagles, and exploring every possible angle to get this mess sorted.

Their main goal? Start handing back money to creditors ASAP. Because let’s be real, when your crypto stash gets snatched by hackers, waiting around isn’t exactly a fun game.

Remember last July? North Korea’s infamous Lazarus Group hit WazirX hard, pulling off that massive $230 million exploit.

That’s not pocket change at all, it’s a crypto heist worthy of a Hollywood thriller.

After that, WazirX filed for restructuring with the Singapore court, hoping to map out a plan to recover and repay.

No

Back in April, there was a glimmer of hope. WazirX’s parent company, Zettai, said the restructuring plan had the backing of 93.1% of voting creditors, representing 94.6% of the total claims.

That’s like nearly everyone in the office signing off on a new project, except the court still has the final say.

If the court had given the green light, creditors could have expected their first payouts within 10 business days of the plan kicking in.

But now? That timeline’s out the window, and the uncertainty is hanging heavy, like waiting for IT to fix the server after the whole office lost internet. It’s annoying af.

Bad plan?

This is yet another evidence that even the best-laid plans can hit a brick wall. WazirX’s fight isn’t over, but the road ahead just got a whole lot bumpier.

For those waiting on their funds, it’s a frustrating wait, like watching the clock tick during a never-ending meeting.

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