Singapore Court to Decide Fate of User Funds by June 20

Singapore’s Excessive Court docket has set June 20, 2025, because the deadline to reply to Zettai’s revised restructuring proposal for troubled crypto trade WazirX. This comes after the courtroom rejected the unique proposal on June 4. In response, Zettai filed a proper request on June 6 beneath case HC/SUM 940/2025 searching for “additional arguments,” as confirmed by WazirX on X (previously Twitter).

Hope for 4.4 Million WazirX Customers?

If the Excessive Court docket accepts the restructuring plan, Zettai could also be required to file a brand new submission and attend additional hearings. The corporate has been beneath strain since WazirX’s hack on July 18, 2024, during which over ₹2,000 crore vanished, leaving 4.4 million customers in limbo with no entry to their funds.

Nonetheless, the delay in courtroom proceedings has left customers annoyed, and if the proposal is just not authorized, Zettai’s solely possibility shall be an extended and extra complicated enchantment course of.

Silence From WazirX Founder Nischal Shetty

All through the authorized proceedings, WazirX co-founder Nischal Shetty has remained noticeably silent. Whereas he has acknowledged the authorized case, he has not issued a public apology to affected customers nor shared any compensation plans.

Regardless of the continuing disaster, no refunds have been initiated, and no consumer funds have been recovered.

Shetty Focuses on Shardeum Regardless of WazirX Collapse

Amid WazirX’s ongoing troubles, Shetty seems to be specializing in Shardeum, his new Layer 1 blockchain enterprise. This week, Shardeum Basis introduced MiCA whitepaper acknowledgment, permitting operations in Europe—an achievement promoted by Shetty on social media.

Though Shetty has distanced himself from WazirX publicly, Shardeum remains to be talked about in his X bio, elevating questions on his true involvement in each ventures.

What’s Subsequent for WazirX?

Zettai has submitted two proposals to date—each rejected by the Singapore Excessive Court docket. With June 20 approaching, the crypto neighborhood is anxiously awaiting the courtroom’s ultimate verdict. If rejected once more, Zettai is anticipated to file an enchantment, however there isn’t a official roadmap for compensation or decision.

Closing Ideas

With thousands and thousands in consumer funds at stake, the crypto world shall be watching intently as Singapore’s Excessive Court docket delivers its resolution on June 20. For now, WazirX customers stay at the hours of darkness, holding onto hope for a positive consequence.