WazirX Nears Relaunch as Creditors Back Plan and Court Decision Looms

Indian crypto exchange WazirX is preparing for a fresh start after receiving overwhelming support from its creditors. Now the company is simply waiting on the Singapore Court to give the green light before it reopens its doors.

Good to know

• 95.7% of creditors voted in favor of the amended restructuring plan.
• More than $206 million in claims were involved in the approval process.
• Operations could resume within 10 business days once the court signs off.

Between July 30 and August 6, voting organized by Zettai Pte Ltd., WazirX’s parent company, brought in 149,559 creditors holding claims worth $206.9 million. Out of those, 143,190 creditors representing $195.7 million supported the restructuring plan—far above the legal threshold under Singapore’s Companies Act.

Independent assessors Joshua Taylor and Henry Anthony Chambers from Alvarez & Marsal verified the count, and official results were emailed to creditors.

The exchange shared its excitement on X:

“95.7% of voting Scheme Creditors supported the Amended Scheme of Arrangement … This outcome reaffirms the strong support shown in the first round of voting and reflects our community’s continued confidence in the restructuring plan.”

From rejection to renewed momentum

The latest vote followed a July ruling from the Singapore High Court, which extended WazirX’s moratorium and overturned an earlier rejection of its framework. That ruling gave the company another chance to push forward its plan.

Under the scheme, recoveries will be distributed through Zanmai India, which operates under India’s Financial Intelligence Unit to ensure compliance and transparency.

Co-founder Nischal Shetty confirmed progress publicly:

“95.7% of voting scheme creditors voted in favour of the amended scheme,” he said. “Next step is to wait for the court hearing. If the scheme is approved by the court then we can restart the platform.”

Zettai Pte Ltd. has already filed an amended summons (HC/SUM 940/2025) with the Singapore Court to seek official sanction.

If approved, WazirX expects to resume operations within 10 business days. The plan also calls for distributions to users, marking the final stage in a process that began after a major security breach put the exchange on hold.