WazirX exits Singapore, moves to Panama after court ruling
Article
Authors
Adrian Zmudzinski
Publish date
June 4, 2025
Publisher
Cointelegraph
Web URL
https://cointelegraph.com/news/wazirx-exits-singapore-moves-to-panama
Referenced by
WazirX rebrands and moves operations to Panama
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News story
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.
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More than 90% of the voting creditors of the Indian crypto exchange WazirX voted in favor of the platform’s post-hack restructuring plan in April. WazirX promised that those tokens may yield 75% to 80% of the value of users’ account balances at the time of the hack.
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