Wazirx creditors may begin receiving their stolen crypto as early as April or 2030, based on the outcome of a voting scheme planned in the coming weeks.

Creditors for the hacked Indian crypto exchange must vote on whether the restructuring scheme should be approved. If the majority or more than 75% of the value of voting creditors votes yes, the scheme comes into force in April 2025, as previously approved by a Singapore court, the company said in an X -post.

If the scheme is approved, the platform is then planned to restart trade operations, with initial payments promised within 10 working days of the scheme’s activation, including distribution of net liquid assets.

Part of the reimbursement plan is to launch a decentralized exchange (DEX), issue the recovery tokens that can be traded, and perform a periodic repurchase of recovery tookens using platform surplus and new revenue streams.

However, if the scheme is not approved, the restructuring plan fails and the process is moving.

The process can be less favorable for creditors due to delays and reduced asset value, Wazirx noted in its position.

Wazirx, once India’s largest crypto exchange in trading in quantities, was hacked by the North Korean hacker -outfit Lazarus in July 2024 and then over $ 230 million user funds stolen from the platform.

Hacker laundered all the stolen funds for different addresses using Tornado Cash to hide the transactions, which Coindesk reported in September that further dimming hope of a full recovery.

Wazirx, who is still rolling from the financial and reputation damage, has worked to recover the funds with limited success. It has been criticized for its handling of the crisis, especially regarding user communications and fund recovery processes.

It filed a moratorium in the courts in Singapore and received legal approval for a restructuring plan in January for the recovery of the creditor and avoided total liquidation.