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.

ChainCatcher news, WazirX has received approval from a Singapore court to repay $235 million to victims of a hacking incident.The restructuring plan was proposed by WazirX's parent company, Zettai, aiming to recover creditors through a court-supervised process and avoid liquidation. WazirX estimates that users can recover 75% to 80% of their account balances through token distribution.According to the court hearing, there is no evidence that WazirX was at fault or acted improperly during the cyber attack.WazirX will initiate a user voting process, expected to be completed within three months, along with an independent third-party audit. If the majority votes in favor, the plan will be implemented, and net liquid assets will be allocated to users based on their claims within 10 days, including any profits generated during the bull market.

ChainCatcher news, according to a report by CoinDesk citing sources, a court in Singapore has approved a four-month stay of payment for the Indian cryptocurrency exchange WazirX under certain conditions.The conditions imposed on WazirX include disclosing its wallet addresses through a court affidavit, responding to user inquiries, revealing its books within six weeks, and ensuring that any future voting takes place on an independent platform.WazirX lost $234 million in a hack in July, accounting for about 45% of customer funds, and the company had previously submitted a six-month stay application to the Singapore High Court.

ChainCatcher news, according to Techinasia, the Singapore High Court today rejected the liquidation application filed by U-Zyn Chua, the former Chief Technology Officer of Cake Group.In addition, besides ruling that there was no reason to shut down the cryptocurrency company, Commissioner Alex Wong added during the court hearing that it was inappropriate for U-Zyn Chua to seek liquidation as a quick fix when other remedies were available.

ChainCatcher news, according to CNBC senior reporter Clement Tan, Three Arrows Capital co-founder Su Zhu faced a lengthy inquiry in a Singapore court regarding the collapse of the cryptocurrency fund for the first time, providing liquidators with the opportunity to gather information to help creditors recover billions of dollars.

ChainCatcher news, according to Cointelegraph, the Singapore High Court has allowed the financial investigation company Intelligent Sanctuary (iSanctuary) to attach NFTs containing legal documents to cold wallets associated with a hacking incident. The NFT will not prevent transactions with these wallets but will serve as a warning to counterparties and exchanges that these wallets were involved in a hacking event.Additionally, iSanctuary claims they have designed a method to track funds leaving these wallets, also implemented through the NFT, which will be permanently attached to these wallets.

ChainCatcher news, according to Bloomberg, the liquidators of Three Arrows Capital stated that the hedge fund's co-founder Zhu Su was arrested in Singapore while attempting to leave the country.Teneo, which is liquidating the failed crypto hedge fund, indicated that it received a commitment order against Zhu Su after he failed to comply with a court order compelling him to cooperate with the liquidation investigation. According to a statement, Zhu Su was sentenced to four months in prison.

ChainCatcher news, Three Arrows Capital founder Zhu Su has obtained a restraining order against BitMEX co-founder Arthur Hayes from a Singapore court. The order prohibits Hayes from using "threatening, abusive or insulting language" and "engaging in any threatening, abusive or insulting communication that would cause the applicant harassment, alarm or distress."Previously, Arthur Hayes had been posting messages to Zhu Su on social media, demanding that Zhu Su return his "debt" of approximately $6 million. (Source link)

ChainCatcher news, the restructuring plan of the Thai cryptocurrency exchange Zipmex has been approved by the Singapore High Court. According to an announcement on the Zipmex website on Thursday, the court approved the establishment of an "administrative convenience class" for creditors with wallet assets not exceeding $5,000. Zipmex's request to extend the creditor protection period by three weeks to April 23 was also approved. (Source link)

According to ChainCatcher, citing sources from The Block, the cryptocurrency lending platform Vauld has received approval from the Singapore court to extend the creditor protection period until February 28, 2023. Previously, its creditor protection was set to expire on January 20 and had sought an extension until April 2. Sources indicate that if the company can make progress, the judge may approve an extension until April. (The Block)

ChainCatcher news, Southeast Asian cryptocurrency exchange Zipmex has received approval from the Singapore court to extend the creditor protection period until April 2, 2023. Additionally, any acquisition deal for Zipmex must be completed by December 21.Previous reports indicated that Zipmex may sign a rescue plan worth over $100 million, which will be led by the venture capital firm V Ventures, founded by Thai billionaire and coffee king Prayudh Mahagitsiri's son, Chalermchai Mahagitsiri, in exchange for 90% of Zipmex's shares. (source link)

According to ChainCatcher, as reported by CoinDesk, Zipmex has applied to the Singapore court to extend the creditor protection period until April 2023. Sources revealed that Zipmex is still negotiating with an investor regarding a potential acquisition deal that could be completed as early as next week.ChainCatcher previously reported that Zipmex may sign a rescue plan worth over $100 million, which will be led by the venture capital firm V Ventures, founded by coffee king Prayudh Mahagitsiri's son, Chalermchai Mahagitsiri, in exchange for 90% of Zipmex's shares. (CoinDesk)