WazirX exchange in India is expected to restart in May, awaiting approval from the Singapore court

ChainCatcher news, according to Cointelegraph, Indian cryptocurrency exchange WazirX is awaiting a hearing on May 13 at the Singapore High Court to obtain permission to restart the platform and begin a compensation plan for users. The exchange suffered a hack by North Korean hackers last July, resulting in a loss of $234 million in crypto assets, which led to the suspension of all withdrawals on the platform. Over 90% of creditors have voted in favor of its restructuring plan, which includes the issuance of recovery tokens, expected to return 75%-80% of users' account balances.

If approved, WazirX will resume operations within 10 working days. Meanwhile, the Supreme Court of India has dismissed the lawsuit requests of 54 victims, stating that issues related to cryptocurrency policy are outside its jurisdiction.