Singapore High Court approves Zettai Pte Ltd’s Scheme of Arrangement to recover $230 million stolen assets and revive WazirX operations.
Zettai receives 16 weeks of legal protection to implement the recovery and restructuring plan, ensuring a smooth process for asset redistribution.
A virtual meeting will be held for creditors to vote on the Scheme of Arrangement. Details of the process will be communicated soon.
The court found no evidence of wrongdoing or misconduct by Zettai, dismissing claims that the company was involved in orchestrating the cyberattack.
The WazirX platform will be restarted with new features to regain user trust and deliver decentralized services.
After creditor approval through the online voting process, Zettai will begin asset distribution and restart the WazirX platform to complete the recovery process.