About a year later Wazirx hack The real relief users have not yet received. On 18 July 2024, after the theft of a big crypto of ₹ 2,000 crore, millions of users could not reach their own funds. Now when the Wazirx’s restructuring scheme is being heard in Singapore High Court on 13 May 2025, it is expected that some solutions will be found, but will it be justice?
What will be justice?
In the restructuring plan that Wazirx has placed in the court, it is a matter of giving the users back 85% funds according to their hack’s value. This refund will be based on the “value of that time”, not at the current price. That is, if the user had invested in bitcoin or any other token and today its price has doubled, then they will get payment only according to the old price. So the question is, is it really refund or just a consolation?
15% funds are not known
Decision on refund of wazirx customers today The biggest concern is to happen in the meantime, where the remaining 15% in the refund plan has gone, no clear answer has been given so far. No public timeline has been released by Wazirx, nor has it been reported how and when the recovery of this amount will happen. This has made the doubt even deeper into the minds of the users that this refund process is not just about showing?
The role of founders is also under question
Wazirx’s role of founders has also raised serious questions. The Crypto community is discussed whether he has any negligence or involvement in this hack and fund management. So far, neither any senior officer has been taken any action nor the accountability of the founders has been fixed.
What are the Government of India and the courts doing?
Several petitions related to Wazirx were filed in the Delhi High Court and Consumer Forum, but recently all of them have been rejected. This has shocked the expectations of the users. No strict steps have been taken by the Government of India on this issue so far, while the matter is related to millions of Indian investors. Should the government no longer intervene, when the assets worth crores of rupees and the trust of common people are at stake?
Eyes on Singapore Court
Now all the hopes are on the decision of the Singapore High Court. If the court approves this plan, the refund process can begin. But the 85% refund that users are getting is not only delayed, but also less in value. Therefore it can be called a “consolation”, not “justice”.
Conclusion
Wazirx Refundsplan’s approval will be a relief for users, but it cannot be seen as full justice. 15% of funds are not known, the role of founders suspects and the government’s silence still seeks answers. In such a situation, this decision is just a beginning, not the destination.
