WazirX Users Can Now Claim Lost Funds After ACRA Filing

TheCryptoTimesPublicado em 2025-10-16Última atualização em 2025-10-16

After more than a year of waiting and uncertainty, WazirX users finally have a clear update. On October 15, 2025, Singapore’s Accounting and Corporate Regulatory Authority (ACRA) received the court-approved Scheme of Arrangement, making the restructuring plan official. 

This now lets WazirX start sending funds and issuing Recovery Tokens to users affected by the July 18, 2024 hack.

Court approval paves the way

The ACRA filing comes after the Singapore High Court approved the scheme on October 13. While the court had already cleared the legal hurdles, the ACRA filing is crucial because it allows WazirX to move from planning to action. 

WazirX CEO Nischal Shetty confirmed that the team is working to restart the platform within 10 business days from the scheme’s effective date, possibly even sooner. The exact date will be announced once preparations are complete.

The scheme, first drawn up on July 23, 2025, was slightly modified before the court approved it. The key change ensures that WazirX officers are protected from claims related to preparing or implementing the plan, except in cases of fraud, wilful misconduct, recklessness, or gross negligence. It gives the company legal clarity while keeping accountability for serious matters intact.

What users stand to recover

For WazirX’s 16 million users, mostly in India, the plan allows recovery of up to 55% of the $235 million lost in the hack. Singapore-based Zettai Pte Ltd will oversee the distribution process, with payouts expected in USDT within 10 business days of the scheme taking effect.

It’s a big step for users who have been waiting over a year with no clear way to get their money back. Now with the ACRA filing, things have finally started moving. Users can actually hope to see some progress on their claims.

Market response and what’s next

After the news, WazirX’s token WRX went up by almost 6%, priced at $0.07248. With current market cap at $27.67 million and 24-hour trading volume valuing at $60.11k, down by 11%, as per CoinMarketCap.

It shows that confidence is slowly coming back to the market. For users, this isn’t just about the price—it’s the first real sign that recovery is actually happening.

CEO Nischal Shetty said the platform should restart within 10 business days, maybe even sooner. The ACRA filing on October 15 is a turning point. After months of uncertainty, users finally have a way to get back part of their lost funds, and the exchange is moving closer to restarting operations and regaining trust.

Also Read: WazirX, Zettai, & the Fight for User Rights: Inside India’s Biggest Crypto Battle

Mobile Only Image

Leituras Relacionadas

Morgan Stanley Research Report Analysis: Gold Hits Target Price of $4450 Earlier Than Expected, Central Bank Purchases Provide Bottom Support

Morgan Stanley's Commodity Update reports that gold has reached its Q4 2026 target of $4450/oz earlier than expected. The price surge, driven by declining Fed hike probabilities, reversed ETF outflows from May-June, with July-August seeing 70 tonnes of net inflows. Central bank buying provides strong support, with China purchasing 60 tonnes this year and Poland increasing holdings toward a 700-tonne target. Gold is decoupling from its traditional inverse relationship with the 10-year real yield, now pricing in fiscal concerns linked to rising yields rather than the yields themselves. While the Fed's path remains a dominant driver for ETF flows, new structural supports include sustained central bank purchases (345 tonnes in H1 2026), historically low COMEX short positions, and yield curve steepening driven by fiscal worries. Morgan Stanley sees a path for gold to surpass $5000/oz by 2027, with the combined scenario of a steady Fed, continued central bank buying, and deepening fiscal concern pricing supporting a higher price floor. Short-term volatility from inflation data and limited short-covering potential is expected but should not alter the overarching bullish trend.

marsbitHá 12m

Morgan Stanley Research Report Analysis: Gold Hits Target Price of $4450 Earlier Than Expected, Central Bank Purchases Provide Bottom Support

marsbitHá 12m

Haiwei Huaxin's Official Seal Seized by Over a Hundred People, High-Stakes Corporate Battle's 'Nuclear Deterrence' in Action Again

On August 18th, Haowei Huaxin, a semiconductor firm specializing in gallium arsenide and gallium nitride wafers, reported that over a hundred individuals forcibly entered its offices and seized the company's official seals from a safe, including the corporate, contract, and party committee seals. The incident is the latest escalation in a protracted control dispute. Haowei Huaxin, established in 2010, was originally a joint venture. Control became contested after 2021 when Zhenwei Financial Holding injected capital, becoming the largest shareholder (34.01%), while former parent Haite High-Tech's stake was diluted to 33.79%. An agreed-upon governance structure collapsed, leading to mutual accusations. Haite claimed it was locked out of the subsidiary's premises, while also alleging improper management like livestock being kept on the chip fabrication site. After state-owned Qingdao Haiyue Holdings took over Zhenwei's stake in 2023, Haite accused it of illegally seizing control. Despite Haite winning several legal battles in 2024-2026, which affirmed its rights to nominate directors and the chairman, it failed to regain physical control or recover the seals. The stakes are high: market valuations for Haite's stake in Haowei Huaxin are estimated between 3.7 to 5 billion USD, yet it is only valued at about 83 million USD on Haite's books. Losing control effectively jeopardizes a significant portion of Haite's value. In response to the seal seizure, Haite framed it as a "shareholder rights protection" action agreed upon by five shareholders. This mirrors a pattern in Chinese corporate disputes where seizing physical seals becomes a tactic to paralyze the opponent's daily operations, seen in past conflicts at companies like Dangdang and Bitmain. However, such actions don't resolve underlying ownership issues; the opposing party can report the seals stolen, declare them void, and apply for new ones, albeit with significant delay. The incident underscores how fragile corporate governance can devolve into physical confrontations over symbols of authority, with control ultimately determined by law and shareholding, not possession of a seal.

marsbitHá 26m

Haiwei Huaxin's Official Seal Seized by Over a Hundred People, High-Stakes Corporate Battle's 'Nuclear Deterrence' in Action Again

marsbitHá 26m

Bernstein Interprets MRNA's 177% Surge: What's Fundamentals and What's Hype?

Bernstein's analysis of Moderna's 177% stock surge following positive Phase 3 results for its individualized neoantigen therapy (INT) in melanoma distinguishes fundamental drivers from market speculation. The clinical breakthrough is real: the INTerpath-001 trial met its primary and key secondary endpoints, providing crucial validation for mRNA technology in oncology beyond infectious diseases. However, Bernstein argues the magnitude of the stock move cannot be justified by this single trial's fundamentals alone. The surge was amplified by three key factors: 1) A re-rating of Moderna's mRNA platform potential for expansion into other cancers, 2) A massive short squeeze, given ~15% of shares were sold short pre-announcement, and 3) The compelling "cancer vaccine" narrative that fueled broader investor enthusiasm. While the melanoma success is significant, Bernstein cautions that replication in lung, kidney, and bladder cancers—which have different immunogenicity—is not guaranteed. Furthermore, INT's commercial model faces challenges: it's a personalized treatment, not a mass-market vaccine, implying higher production costs and potential margin pressures despite a projected multi-billion dollar peak sales opportunity. The report also notes sector rotation, with some funds moving from crowded AI/semiconductor trades into defensive healthcare stocks, adding further momentum. In conclusion, Bernstein maintains a "Market-Perform" rating and a $45 price target, far below the post-surge price. It views the current valuation as pricing in an optimistic multi-cancer platform success and efficient commercialization that are yet to be proven. The clinical inflection point is clear, but the earnings inflection point awaits validation across future trials and commercial execution.

marsbitHá 26m

Bernstein Interprets MRNA's 177% Surge: What's Fundamentals and What's Hype?

marsbitHá 26m

Two Ethereum "Whales" Sell $63 Million in Assets Amid Intensifying Selling Pressure

Two major "whale" entities sold a combined $63 million worth of Ethereum (ETH) and staked ETH (stETH) on Friday amid ongoing market selling pressure. Blockchain analytics platform Lookonchain reported that a large investor known as "7 Siblings" sold 14,000 ETH for $32.85 million. This entity, tracked since 2024, typically buys ETH during sharp declines and takes profits through coordinated large transfers. At its peak, this wallet held assets worth approximately $2.8 billion in ETH. Separately, wallet 0xFD10 sold 11,252 stETH and 1,824 ETH for a combined $30.78 million. Unlike 7 Siblings, this wallet's market exit motives are unclear. These sales occurred as ETH traded near $2,350. The report notes a broader trend of large ETH holders selling during the 2026 rally, viewing price stability as an opportunity to reduce positions. Despite the sales, 7 Siblings remains a major known ETH holder, and its past behavior suggests further large transactions are possible if prices move significantly. A sustained break below $2,300 could refocus attention on the $2,000 zone, while a bounce would indicate the sales were routine profit-taking.

cryptonews.ruHá 56m

Two Ethereum "Whales" Sell $63 Million in Assets Amid Intensifying Selling Pressure

cryptonews.ruHá 56m

South Korean Lawmakers Seek to Expand FIU's Authority Over Unregistered Crypto Companies

A group of South Korean lawmakers, led by People Power Party representative Om Tae-yeon, has proposed a bill to amend the current financial law. The amendment would significantly expand the powers of the Financial Intelligence Unit (FIU) to investigate unregistered cryptocurrency companies operating in or serving South Korean customers. Under the proposed changes, the FIU would gain the authority to directly investigate alleged violations based on reports from any individual, file complaints, request criminal investigations, and transfer information to prosecutors. This marks a shift from the current system, where the FIU identifies suspected unregistered operators but relies on police and other agencies to conduct investigations. The bill's introduction follows reports that police suspended investigations into 23 out of 25 unregistered virtual asset service providers referred by the FIU between August 2022 and August 2025, primarily because the companies were based overseas. Currently, 28 providers are registered with the FIU, which has referred 40 cases of suspected illegal operators to investigative authorities. The proposed legislation must now undergo review in the National Assembly before any amendments to the law are enacted.

cryptonews.ruHá 58m

South Korean Lawmakers Seek to Expand FIU's Authority Over Unregistered Crypto Companies

cryptonews.ruHá 58m

Trading

Spot
活动图片

Categorias popularesright-arrow

Etiquetas Popularesright-arrow