PANews reported on June 25 that according to CryptoSlate, the Singapore High Court approved the extension of WazirX's legal protection period, giving the Indian exchange, which is deeply involved in a $234 million hacking incident, a last chance for restructuring. The court allowed it to raise new arguments in support of the revised restructuring plan and suspend creditor lawsuits until the final ruling. The exchange had previously planned to transfer its core business to Zensui Corporation, a new Panamanian entity, and planned to issue "recovery tokens" linked to outstanding balances, promising that users would eventually recover 75%-80% of their lost assets. Despite receiving 93% of creditors' votes in April, the court did not approve the plan last month on the grounds of lack of transparency.

If the restructuring fails, forced liquidation may delay user repayments until 2030. Currently, 400,000 user accounts on the platform have been frozen for nearly a year, and the date of the next round of hearings has not yet been announced. This extension is seen as the last window for WazirX to rebuild trust after the collapse of institutions such as FTX.