June

WazirX just dropped a new update, trying to revive whatever hope its users still have. On June 24, they tweeted that the Singapore Court has allowed them to submit more arguments for their proposed restructuring plan, the same plan users have been waiting on for months. 

📢 Update on Proposed Scheme of Arrangement

The Singapore Court has granted our request to present further arguments in our application for the Court’s sanction of the proposed Scheme of Arrangement. Additionally, the Court has extended the moratorium granted in HC/OA 1284/2024… pic.twitter.com/QdozZHnWVX

— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) June 24, 2025

Alongside that, the Court also extended the legal moratorium (HC/OA 1284/2024) beyond its earlier expiry date of June 6, 2025, offering the company continued legal protection until a final decision is made on these further submissions.

At first glance, this may seem like positive progress.

But scratch the surface, and for many affected users, the update lands more like déjà vu than direction. Because they’ve heard this all before.

A Timeline Full of Gaps, Not Clarity

Back on June 6, WazirX had informed users that the Court would decide on the restructuring plan, amidst objections from Zettai Pte. Ltd., the key investor opposing the scheme, within 14 days. That timeline puts the expected decision date around June 20.

Yet, four days past that window, no formal word came from WazirX. Social media was flooded with tweets, tags, and DMs asking one simple question: “What’s the update?” But there was no response. Not even an acknowledgment.

Then came today’s email and tweet, announcing not a decision, but yet another extension.

A New Window or the Same Old Delay?

In its official email to users, WazirX said the Court had granted:

• Permission to make further arguments concerning HC/SUM 940/2025 (“SUM 940”), and
• Extension of the moratorium granted in OA 1284, from June 6 until the final disposal of these arguments.

Their legal team, Rajah & Tann Singapore LLP, is currently awaiting formal directions from the Court on how to proceed. Until then, it’s another waiting game.

But that’s precisely the problem.

For users, this doesn’t feel like forward movement; it feels like another loop in an endless cycle. This whole mess really started on July 18, 2024, the day WazirX finally admitted it had been hacked. In seconds, crores worth of user funds were gone. And with that, the trust people had in one of India’s biggest crypto exchanges just collapsed.

It’s about students who lost their entire savings overnight. Traders who spent years building their portfolios, now can’t even access their own funds, no clarity, no timelines, nothing. Parents who put their money into crypto hoping it would help their kids someday, now just sitting with empty inboxes, waiting for updates that never show up.

Behind every wallet is a human story, and they’ve all been left hanging.

And now, they’re being asked to be patient again.

For many users, today’s message from WazirX doesn’t signal progress. It triggers memories of months of vague statements, of “we’re doing our best” tweets, and of zero accountability for the loss they suffered.

What Comes Next?

That’s the question no one seems to be answering.

With the Court now allowing more arguments, and WazirX still waiting on instructions, there’s no fixed date for when this will be resolved. There’s no clarity on how long users will be stuck under the extended moratorium. There’s still no clear word on what’s happening with Zettai’s objections, whether they’ve been resolved, changed, or simply pushed aside.

At this point, users don’t want another vague “update.” They need real answers. Clear timelines. And most importantly, honesty.

Legally, this might seem like a step forward for WazirX. But for those still waiting on their stolen funds from the 2024 hack, it doesn’t feel like progress. It feels like the same old story.

Also Read: WazirX Co-Founder’s Venture Shardeum Sinks 60% Post Listing

Source link