WazirX suffered a $235 million hack in 2024, which has been linked to North Korean state-sponsored hackers

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The Singapore High Court has rejected the moratorium application filed by Zettai, the parent company of crypto exchange WazirX, which sought to restructure the firm and redistribute funds to users affected by last year’s $234 million hack. Zettai also revealed to the court that in March it had opened a new firm in Panama and rebranded as Zensui.

WazirX’s recovery token is almost like an onchain IOU that the exchange plans to mint for every creditor of the exchange. The court filings follow a Singapore court’s approval of WazirX’s plan to repay the victims of its $235 million hack, which has been linked to North Korea’s state-sponsored hackers.