Why wazirx Is Trending Today?

WazirX, a cryptocurrency exchange, has received official approval from the Singapore High Court for its restructuring scheme. This decision comes after the platform suffered a significant hack, resulting in a loss of approximately 234 million USD. Following the court's approval, WazirX aims to relaunch its operations within a span of 10 days after the order is filed.

WazirX, a prominent Indian cryptocurrency exchange, has secured approval from the Singapore High Court for its debt restructuring plan. This approval paves the way for the platform to begin repaying users who were affected by a $234 million hack. The court's sanction allows WazirX to restart operations within 10 business days, providing relief to millions of users who had been left in limbo following the hack. The exchange's CEO expressed gratitude for the court's decision, stating that it marks a significant step towards resolving the crisis and restoring user confidence in the platform.