The Indian Cryptocurrency Exchange Wazirx has won the approval of Singapore High Court for restructuring after the $ 230 million hack of last year.
The Supreme Court has given Wazirx the opportunity to convene a scheme meeting with users in a “significant step” towards distributing funds lost in the attack and reviving the platform’s operations, announced Exchange via E email on Thursday.
If the restructuring plan is approved, funds would then be distributed to creditors within 10 working days.
Wazirx was hacked by attackers by the North Korean group of Lazarus in July, as over 45% of the stolen of the exchange of $ 500 million was stolen. Over the following months, the hackers laundered their poorly achieved gains using privacy -focused crypticamer Tornado Cash.
The court has found that there was no evidence of the wrongdoing from Wazirx in the attack despite suggestions from some users that Wazirx’s parent company Zettai had some involvement.
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