WazirX Users Await Court Decision on $230M Hack Recovery

WazirX users, who have been anxiously awaiting the resolution of their frozen funds, are set to receive some clarity as a court hearing is scheduled for May 13. The hearing is expected to address the fate of the $230 million that was stolen in a hack attributed to the North Korea-linked Lazarus Group. This incident has left many users in limbo, hoping for a resolution that could potentially unlock their frozen assets.

The upcoming court hearing is a significant development for WazirX users, who have been impacted by the hack. The Lazarus Group, known for its sophisticated cyber-attacks, has been implicated in numerous high-profile incidents, making this case particularly complex. The court's decision on May 13 could provide much-needed relief to the affected users, who have been waiting for a resolution since the hack occurred.

Back in July 2024, WazirX suffered a massive hack that wiped out $230 million in crypto overnight. In response, WazirX froze over half of its users’ funds, affecting around 55% of the total funds. Following the hack, the exchange suspended trading, leaving users without access to their funds and unsure about when or if they would be able to recover their money. Meanwhile, the trust was broken, and faith in the platform hit rock bottom.

Fast forward to May 2025, WazirX’s restructuring plan is now in the hands of Singapore’s High Court. If approved, this could be the first real step toward recovery. A recent update from WazirX revealed that 93.4% of users supported the plan, showing a strong consensus within the community. If the court approves the restructuring proposal, WazirX promises that users will receive 85% of their stolen funds, calculated based on their holdings at the time of the hack. The company anticipates that payouts could begin within 10 business days after the court’s approval.

For many users, today’s hearing feels like a moment of truth. While this decision offers much-needed optimism, the story isn’t over yet. The remaining 15% of funds still lack a clear recovery timeline, and many users remain unsatisfied with how the situation was managed after the hack. The legal proceedings surrounding the WazirX hack have been closely watched by the cryptocurrency community. The Lazarus Group's involvement adds an international dimension to the case, as the group is known for its ties to North Korea. The court's ruling will not only impact the users directly affected by the hack but also set a precedent for how similar cases are handled in the future.

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