-
WazirX met the latest court requirement when it filed a legal submission.
-
This latest filing is part the process to resolve July 2024 hacking case.
-
The court has yet to decide on the date of the hearing.
WazirX – the Indian cryptocurrency exchange which suffered a major cyber attack in July 2024 – has filed a legal filing in accordance with the Singaporean High Court instructions. In its latest post the exchange confirmed it had filed the legal submission on Friday, 26 September, meeting the deadline in the ongoing case.
This filing was part of a larger schedule where opposing creditors had to submit corrected affidavits before September 19, Zettai Pte Ltd had to respond by September 22 and all parties needed to lodge their final written submissions before September 26.
The WazirX court case is still in progress
WazirX has released a new update to keep its customers informed about the progress of the hacking case from last year.
The exchange reported that earlier this month the court had ordered certain creditors to submit a new affidavit via an Indian law expert after the initial submission failed to comply with court instructions.
Related to Singapore Court Orders New Expert affidavits for WazirX Case
The High Court then issued an updated timetable, requiring that final written submissions be submitted by WazirX Singapore’s entity, Zettai Pte Ltd and the Relevant Non-Parties, no later than September 26. The court will then review these submissions, and give directions on the hearing date.
Why is WazirX in Court?
The hack of July 2024 was a turning-point for WazirX. Hackers stole approximately $234.9 millions from the platform, forcing it to cease operations.
WazirX has pursued a scheme-of-arrangement in Singapore to resolve the fallout. This is the standard legal mechanism used for restructuring debts under court supervision. The court proceedings have so far focused on Zettai Pte Ltd., WazirX’s Singapore-based entity which oversees crypto-to-crypto transactions, and Relevant Non-Parties, representing creditors.
The parties are now awaiting the High Court’s instructions on the schedule for hearings. WazirX reiterated that it would comply with all legal requirements, and thanked users for their patience.
Related to WazirX hack explained: What happened & what’s next
This site is for entertainment only. Click here to read more
