The Indian Crypto Exchange Wazirx has been in the news for its restructuring plan for some time. Wazirx hack About 6 months later, where the company says that it remains on the track on its plan, on the other hand, protests and legal challenges are also coming from users. An important court hearing to be held on May 13, 2025 in Singapore can play an important role in deciding the future of this whole incident. This hearing can also provide a new direction to the Wazirx restructuring plan.
Wazirx gives a ray of hope
Wazirx recently confirmed in a tweet that his restructuring plan is moving forward according to his plan. He also said that if the scheme is approved after the Singapore court hearing on May 13, then users will start getting refund of funds in the first 10 businesses. This news has brought relief for those users who have been waiting for their funds to return for a long time.
Founder replied on rumors
Wazirx founder Nischal Shetty also reacted on social media on the matter. He dismissed the rumors, saying, “We are on track and are expected to get approval from the court soon.” He appealed to users to maintain patience and stay away from rumors. He also said that as the process progresses, even more updates will be shared.
Petition and notice in Delhi High Court
While the company is claiming progress on the one hand, on the other hand Delhi High Court issued notice on Wazirx’s Restructuring Plan Is. Petitioners Sudhir Verma and Kunal Dhariwal have alleged that this is being done without the consent of restructuring users and is also included in digital assets that were not affected by the July 2024 cyber attack. He claims that it is a violation of users rights and Zettai PTE. Ltd. Rebelling and liquidation is being done in the favorite of K.
Questions raised on data safety and transparency
The petition also stated that the personal and financial information of users is being shared with foreign institutions, which has raised serious questions about data safety. Also, under the plan, users are also being conditioned to release all legal matters, which also question transparency and fairness. It is also alleged that the entire process is being run by a advisor who itself works for the restructuring unit, which leads to the position of the Conflict of Interest.
Conclusion
The eyes of users and investors on the future of Wazirx are now on the court hearing to be held on May 13, 2025. While the company is talking about giving relief on one hand, on the other hand, the notice of the Delhi High Court and the allegations of the petitioners are questioning the validity and transparency of the scheme. The coming weeks can definitely prove to be decisive for Wazirx and its users.
Also read:Memefi Day by Day Codes for November 15, Aron Virtual Coin
