- WazirX has fulfilled the latest court requirement by filing a legal submission.
- The latest filing is part of the process to resolve the July 2024 hack case.
- All the parties involved are awaiting the court’s decision on a hearing date.
WazirX, the Indian cryptocurrency exchange that suffered a major hack in July 2024, has filed a legal submission in line with the Singaporean High Court’s instructions. In its latest post, the exchange confirmed that it filed the submission on Friday, September 26, meeting the deadline set in the ongoing matter.
This filing came as part of a broader schedule, where opposing creditors were ordered to submit corrected affidavits by September 19, Zettai Pte Ltd was directed to respond by September 22, and all parties were required to lodge their final written submissions by September 26.
The WazirX court process is still ongoing
WazirX’s latest update is part of its effort to keep customers informed on the progress of the case tied to last year’s hack.
Earlier this month, the exchange disclosed that the court had instructed certain creditors to file a new affidavit through an Indian law expert, after the initial submission was found non-compliant with court directions.
Related: Singapore Court Orders New Expert Affidavits in WazirX Case
The High Court then issued a revised timetable, mandating final written submissions from both WazirX’s Singapore entity, Zettai Pte Ltd, and the Relevant Non-Parties by September 26. The next step is for the court to review these submissions and provide directions on the hearing date.
Why is WazirX in court?
The July 2024 hack was a turning point for WazirX, with hackers stealing approximately $234.9 million from the platform and forcing it to halt operations.
To resolve the fallout, WazirX is pursuing a scheme of arrangement in Singapore, the standard legal mechanism for restructuring debts and operations under court supervision. The court proceedings so far have centered on Zettai Pte Ltd, WazirX’s Singapore-based entity that oversees crypto-to-crypto operations, and the Relevant Non-Parties representing creditors.
With all written submissions now filed, the parties await the High Court’s directions on the timeline for hearings. WazirX reiterated its commitment to complying with all legal requirements and thanked its users for their patience as the case proceeds.
Related: WazirX Hack Explained: What Happened & What’s Next
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