Crypto Exchange WazirX is Granted a Four-Month Conditional Moratorium

A Singapore court yesterday granted a four-month moratorium to Indian cryptocurrency exchange WazirX, with certain conditions.

The exchange has been ordered to reveal the addresses of its wallets through a court affidavit, respond to users’ queries, disclose its book of accounts within six weeks, and ensure that any future voting on the way forward is conducted on an independent platform.

This decision comes after WazirX lost $234 million in a hack, which accounted for 45% of customers’ funds.

The hacker, who used Tornado Cash to obscure the transactions, is almost done laundering the stolen funds. According to WazirX’s legal advisors, customers are unlikely to be fully compensated in crypto terms.