$230 Million WazirX Hack: Singapore Court Extends Moratorium to June 6

WazirX users have been anxiously awaiting the SUM 940 hearing at the Singapore High Court regarding the devastating $230 million hack. The session, held on May 13, resulted in an extension of the temporary moratorium under case OA 1284, giving Zettai temporary legal protection and time to focus on restructuring efforts and fund recovery for affected users.

WazirX, one of India’s largest cryptocurrency exchanges, suffered a major security breach on July 18, 2024, with hackers stealing approximately $230 million (about ₹2,000 crores). Following the incident, the platform froze over half of users’ funds and suspended trading activities, leaving many investors in a state of uncertainty about their investments and the possibility of fund recovery.

According to a post shared by WazirX on platform X (formerly Twitter) on April 12, 2025, the Singapore court had scheduled a hearing on the exchange’s recovery plan for May 13. After the hearing, WazirX notified users that the moratorium had been extended to June 6, 2025. However, the court has not yet issued a ruling on SUM 940 and has instead required Zettai to file additional legal documents by May 23.

The WazirX hack once again highlights the growing risks and vulnerabilities facing the crypto industry, emphasizing the urgent need for stronger cybersecurity measures. In a related development, German authorities recently seized $38 million worth of cryptocurrency from eXch, a platform allegedly linked to the $1.4 billion Bybit hack.

Since the breach, WazirX has been working on a recovery plan and submitted a restructuring proposal to the Singapore court earlier in 2025. With strong user support (up to 93.4%), the platform proposed to reimburse 85% of the frozen funds. The exchange had initially planned to begin payouts within 10 days of court approval. However, the latest court session has left users in the dark once again about when they might actually receive their money back.

This ongoing situation with WazirX is unfolding alongside heightened attention on the crypto community’s anticipation of a final verdict in the XRP lawsuit. While the XRP case nears conclusion, the outcome of the WazirX case remains uncertain.

In a recent update, crypto commentator Pushpendra Singh claimed that WazirX attended the hearing without presenting sufficient evidence. As a result, the court has ordered the exchange to provide the necessary documents, meaning users will likely need to wait even longer for clear answers about fund recovery.