PANews reported on January 28 that the Singapore High Court approved the restructuring plan of the cryptocurrency exchange WazirX, allowing the platform to repay customers after losing $235 million in an attack in July 2024. WazirX estimates that users can recover up to 80% of their account balances.

The company will launch a voting process, which is expected to be completed within three months. If the majority of users vote in favor, the plan will be implemented. This will allow the exchange to allocate liquidity assets to users based on their claims, including bull market gains.

A Singapore court has upheld a restructuring rather than liquidation, saying a quick resolution and distribution of funds is the best option for users. (Cointelegraph)