Indian cryptocurrency exchange WazirX has won approval from the Singapore High Court to reorganize after a $230 million hack last year.
The High Court allowed WazirX to meet the scheme with users in a “significant step” towards distributing the funds lost in the attack and reviving the platform’s operations, the exchange announced via email on Thursday.
If the restructuring plan is approved, the funds will be distributed to creditors within 10 business days.
It was WazirX hacked by attackers of the North Korean group Lazarus in July, that more than 45% of the exchange’s $500 million in assets were stolen. In the following months, the hackers laundered their ill-gotten gains with the privacy-focused crypto mixer Tornado Cash.
The Court found that there was no evidence of wrongdoing by WazirX in the attack, despite suggestions from some users that WazirX’s parent company Zettai had some involvement.
Read more: Over Half of Crypto Tokens Debuting in 2024 Are Malicious: Blockaid
