TLDR:

95.7% of WazirX creditors voted for the amended recovery plan, showing strong backing after the $234M hack.
Voting involved 149,559 creditors representing over $206M in approved claims across the platform.
Independent verification confirmed results before submission to the Singapore Court for sanction.
If sanctioned, WazirX plans to restart operations and begin distributions within 10 business days.

WazirX users have moved the recovery process a step closer to reality. Creditors holding claims approved a revised restructuring plan. This comes after the $234 million hack that left thousands without access to balances. 

A second round of voting gave even stronger backing than the first. Now, the platform must wait for a Singapore Court decision before restarting operations.

WazirX Creditor Support for Amended Crypto Recovery Plan

According to WazirX, 95.7% of scheme creditors voted in favor of the amended recovery plan. The vote was conducted between July 30 and August 6 through Kroll Issuer Services. In total, 149,559 creditors took part, holding over $206 million in approved claims.

Of those, 143,190 creditors backed the plan, representing $195 million by value. That equals 94.6% of all approved claims. The support level surpasses the statutory threshold required under the Singapore Companies Act.

This revote followed the first round earlier in the year. The latest results show stronger support in both count and claim value. The scheme allows recoveries to be distributed through Zanmai India, which reports to India’s Financial Intelligence Unit.

Nischal Shetty, WazirX founder and now leading Shardeum, said the process had been designed to deliver recoveries quickly and fairly. He stated that operations could restart within 10 business days once the court sanctions the scheme.

95.7% of voting scheme creditors voted in favour of the amended scheme. Next step is to wait for the court hearing. If the scheme is approved by the court then we can restart the platform. https://t.co/PG2wfAkskU

— Nischal (Shardeum) (@NischalShetty) August 18, 2025

Verification and Next Steps in Crypto Recovery Process

The results were independently verified by Joshua Taylor and Henry Anthony Chambers of Alvarez & Marsal. Their report confirmed the outcome and ensured the integrity of the vote. Zettai, the holding company, has already filed the amended summons in the Singapore Court.

The court must now sanction the plan before distributions can begin. If approved, WazirX creditors will gain access to balances through the first payout within 10 business days.

All scheme creditors were sent a formal notice confirming the vote. Updates will follow as filings move through the Singapore Court.

Shetty also acknowledged the pressure users have faced over the past year. He stated that the strong backing in the second vote reflected a shared goal of restarting the platform.

The post WazirX Creditors Back $234M Recovery Plan, Await Court Green Light appeared first on Blockonomi.

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Filed under: Bitcoin - @ August 20, 2025 8:21 am