Indian crypto investors are eagerly waiting for WajiRux to resume its business after being hit by a massive $235 million hack. The Zettai team has announced key dates related to the initial distribution of crypto assets lost in the attack.
This happens when the Supreme Court of India deals a blow to the victims of Wajirux Hak by dismissing their petition on the grounds of ambiguity of the regulations. Investors have already lost in the Bull Run as Bitcoin. This was trading around $61,000 when the exchange was hacked, but in January 2025 it reached $109,000.
Wazirx is waiting for a nod to the final court
In an X’s post, Wazirx said he understands his enthusiasm for rebooting the platform and appreciates the patience of users during difficult times. It added that Exchange is telling you that the initial distribution and reboot will occur within the April-May window of 2025.
Wazirx’s parent company, Zettai Pte Ltd, has highlighted that it has completed all necessary steps in advance and is awaiting a sanctions hearing. The case is scheduled for May 13, 2025 by the Singapore High Court on May 13, 2025. This hearing proved to be an integral step in this scheme to become legally effective. If the scheme is approved by the court, initial distribution and restart will take place within 10 business days from the date of the effective scheme.
Previously, Indian Crypto Exchange removed the latest information on the deployment voting scheme. 93.1% of voting creditors, representing a value of 94.6%, said they voted “yes” in the arrangement scheme. More than 141,000 scheme creditors voted, representing an approved claim of approximately $195 million, according to the data. However, around 131,000 investors, representing around $185 million, voted in favor.
Is there no justice for the victims of Wajirak Hack?
This development comes when India’s Supreme Court rejected a petition from the victims of the $230 million Wajirux Hack. The apex court should not expect legal intervention if no cryptographic regulations exist.
This case was submitted by 54 Wazirx users and is looking for action against co-founders Nischal Shetty, Binance and Custody Provider Liminal. Meanwhile, the bench of 2 judges revealed that the ciphers remained in the policy grey zone. And it’s the government’s job to set rules.
Legal details of Wazirx customers for hacked exchanges in India
Supreme Court dismissals do not sit well with the victims, revealing key fault lines in India’s crypto ecosystem. The user holds the bag as the regulator limps.
The July 2024 violation wiped out a $230 million user fund after Wazirx’s Ethereum Multisig wallet was breached. Zettai Pte, linked to Wazirx, quickly applied for a court-certified moratorium to restructure its debt. It turns out to be just a move to add fuel to the fire. By September, hackers had already washed more than 7,200 ETH through tornado cash.
