Indian cryptocurrency exchange WazirX, targeted in a $234 million hack last July, has announced that it is progressing towards resuming operations pending a critical court decision in May. The Singapore High Court is set to rule on WazirX’s restructuring proposal and user compensation plan on May 13, 2025. If approved, WazirX’s parent company Zettai PTE Ltd will be able to restart the exchange and initiate the compensation process for affected users within ten business days. The hack, attributed to North Korean hackers, led to the loss of $234 million in crypto from a Safe Multisig wallet, prompting WazirX to halt all crypto and Indian rupee withdrawals temporarily. WazirX revealed that over 90% of the voting creditors supported the post-hack restructuring plan, which involves issuing recovery tokens repurchased using the exchange’s net profits. The tokens are expected to yield between 75% to 80% of users’ account balances at the time of the cyberattack. The exchange warned that without creditor approval, repayments from the hack could face delays until 2030. In a separate development, the Supreme Court of India dismissed a petition filed by 54 hack victims seeking legal action against WazirX, Binance, and custody provider Liminal. The court stated that the matter pertains to crypto policy, beyond its jurisdiction, advising the petitioners to seek resolution through regulatory bodies. WazirX users eagerly await the court’s decision in May, anticipating the exchange’s potential restart and compensation for the hack victims.