India’s crypto landscape is charging forward as Wazirx hits a critical milestone in its comeback strategy, officially entering recovery mode with a sanctioned scheme that promises restored user access, token distributions, and a platform relaunch in just 10 business days.
Wazirx Sets Stage for Comeback With Filed Scheme of Arrangement
Indian crypto exchange Wazirx announced a significant development in its operational revival, signaling a new phase for the country’s digital asset ecosystem. The company stated on Oct. 15 that it has officially filed its sanctioned Scheme of Arrangement with the Accounting and Corporate Regulatory Authority (ACRA) in Singapore, completing the final step following court approval. The filing allows Wazirx to advance its recovery plan focused on restoring user access and stabilizing trading activity. The move also supports efforts to rebuild confidence within India’s crypto community.
In a post on social media platform X, Wazirx said: “We are pleased to share that the sanctioned Scheme of Arrangement has been duly filed with the Accounting and Corporate Regulatory Authority (ACRA) on 15 October 2025.” The exchange also confirmed:
The Wazirx platform will restart within 10 business days from the Scheme’s effective date of 15 October 2025.
The Indian crypto exchange continued: “The conclusion of the court proceedings and the filing of the order with ACRA paves the way for the implementation phase – where users will receive distributions and Recovery Token under the Scheme.”
In July 2024, Wazirx suffered a major security breach, resulting in the theft of approximately $230 million in digital assets, nearly half of its reserves. The attackers gained full control, allowing them to drain the funds, which included and . Wazirx immediately paused withdrawals and initiated an investigation. The sophisticated nature of the attack, including the subsequent use of crypto mixers like Tornado Cash to launder funds, has led some analysts to speculate on the involvement of the North Korean Lazarus Group. The incident underscored security risks in centralized exchanges.
FAQ 🧭
- What does Wazirx’s court-approved Scheme of Arrangement mean for users? It marks the beginning of user fund recovery and token distribution within a regulated and legal framework.
- When will the Wazirx platform relaunch for trading? The exchange confirmed operations will restart within 10 business days from October 15, 2025.
- How does this impact investor confidence in India’s crypto market? The structured legal recovery is expected to significantly restore trust and drive stability in the Indian crypto space.
- Is Wazirx’s progress a signal of broader regulatory evolution in India? Analysts believe it showcases a path forward for compliance-focused innovation within the country’s evolving crypto policy landscape.
Author: Kevin Helms
Source: Bitcoin
Reviewed By: Editorial Team
