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In a big blow to crypto exchange WazirX, the Singapore High Court, on Wednesday, dismissed its restructuring plan submitted by Zettai Pte Ltd in November 2024, after the platform suffered a $235 million cyber theft in July last year.
Sources privy to Wednesday’s hearing told ET, the Singapore court observed that WazirX-operating entity Zettai Pte Ltd was not registered in India and hence the restructuring Scheme shall not be valid.
The plan, proposed by Zettai, was placed before the court as part of an insolvency process after WazirX, once the largest…
