Mumbai, August 18, 2025 – WazirX, the embattled crypto exchange, announced that a second revote on its amended restructuring plan drew overwhelming support—garnering 95.7% approval by user count and 94.6% by value of claims. This result comes as the exchange prepares to seek the Singapore High Court’s final approval.
Voting Details: Broad Backing and Rigorous Verification
- Participants: 149,559 scheme creditors representing USD 206.9 million in approved claims participated in the vote held from July 30 to August 6.
- Support Breakdown: 143,190 users voted in favor, accounting for 95.7% of creditors by count and 94.6% by claim value.
- Verification: Independent auditors from Alvarez & Marsal confirmed the integrity of the vote.
What Happens Next: Court Filing and Quick Restart
With the verified vote in hand, WazirX’s parent, Zettai Pte Ltd., is poised to file the amended scheme with the Singapore Court. If sanctioned, the platform plans to resume operations within 10 business days, enabling users to access their crypto balances. Founder Nischal Shetty emphasized the result underscores the fairness and transparency of the restructuring process.
A Template for Crypto Recovery?
Industry analysts view this milestone as a potential blueprint for crypto insolvency resolution—demonstrating active user participation, independent oversight, and regulatory alignment. The vote also signals growing trust in structured recovery mechanisms over chaotic bankruptcy models witnessed in other crypto failures. AInvest
Summary Table
| Aspect | Details |
|---|---|
| Vote Approval | 95.7% by users, 94.6% by value of claims |
| Voters Involved | 149,559 creditors / USD 206.9 million in claims |
| Independent Audit | Alvarez & Marsal verified the process |
| Next Step | Filing with Singapore Court, awaiting sanction |
| Expected Outcome | Platform restart within 10 business days post-approval |
| Broader Significance | Sets a precedent for fair and transparent crypto recovery |
Final Takeaway
WazirX’s resounding 95% user approval in the revote for its restructuring plan marks a crucial step toward restoring operations and credibility. With legal scrutiny ahead, the exchange’s approach may set new standards for transparency and user-focused recovery in the crypto space.
