WazirX Gets Some Respite As Singapore Court Grants Crypto Exchange Four-Month Moratorium

WazirX Gets Some Respite As Singapore Court Grants Crypto Exchange Four-Month Moratorium

SUMMARY

WazirX is required to disclose wallet addresses through a court affidavit, address user queries raised during court proceedings, among others

Our immediate filing for the moratorium was a decisive step: Nischal Shetty

WazirX, which suffered a $234 Mn hack, losing approximately 45% of its customers' funds, had filed an application with the Singapore High Court seeking a six-month moratorium

The Singapore courts have granted cryptocurrency exchange WazirX a four-month moratorium, the company said.

The court has approved the moratorium with specific conditions. WazirX is required to disclose wallet addresses through a court affidavit, address user queries raised during court proceedings, release detailed financial information, and ensure that future voting on court applications is overseen by independent parties. These measures aim to enhance transparency and safeguard the interests of all stakeholders throughout the resolution process.

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