Singapore Court Grants WazirX Four-Month Conditional Moratorium
A Singapore court has granted Indian cryptocurrency exchange WazirX a four month moratorium based on certain conditions on Thursday, an industry source told CoinDesk.
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Nischal Shetty
A Singapore court has granted Indian cryptocurrency exchange WazirX a four month moratorium based on certain conditions on Thursday, an industry source told CoinDesk.
It is extremely unlikely that WazirX customers will be made whole in crypto terms through the restructuring, legal advisers of the Indian cryptocurrency exchange said.
Indian rival CoinSwitch said it is likely to sue the hacked crypto exchange, where $9.6 million worth of deposits were held.
Indian cryptocurrency exchange WazirX, which suffered a $230 million exploit in July, is ending its relationship with custody provider Liminal.
Indian cryptocurrency exchange WazirX’s co-founder Nischal Shetty told CoinDesk that outreach efforts to different exchanges “are going to be crucial,” as it remains open to “everything that is possible to help solve this situation.”