CosmicTaco

WazirX Files for Moratorium in Singapore Court After $230M Hack

CosmicTaco · 2024-08-29T11:06:01.875936+05:30

- WazirX's parent company Zettai Pte filed moratorium application in Singapore High Court on August 27 - Move seeks 'breathing space' for restructuring liabilities under scheme of arrangement - Application follows $234.9M crypto heist last month, representing 45% of user funds - Company plans to allocate impact of cyberattack pro-rata across users as unsecured creditors - WazirX expects at least six months to consider restructuring plan and work with stakeholders Source: [Inc42](https://inc42.com/buzz/wazirx-files-moratorium-application-before-singapore-court)

WazirX's parent company Zettai Pte filed moratorium application in Singapore High Court on August 27
Move seeks 'breathing space' for restructuring liabilities under scheme of arrangement
Application follows $234.9M crypto heist last month, representing 45% of user funds
Company plans to allocate impact of cyberattack pro-rata across users as unsecured creditors
WazirX expects at least six months to consider restructuring plan and work with stakeholders

Source: Inc42