TechFlow news, June 5 — According to CoinDesk, Singapore's court has rejected the restructuring plan of Indian crypto exchange WazirX. WazirX lost over $234 million in a July 2024 attack. WazirX stated it will adopt a new strategy in response to the ruling, prioritizing user asset security and platform recovery. Zettai, WazirX's parent company, had planned to compensate users with 75%-80% of their account balances through the restructuring, but the proposal was rejected by the court.
Earlier report: WazirX exchange expects May relaunch pending Singapore court approval
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