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The Singapore High Court has scheduled a pivotal hearing in case HC/SUM 940/2025 involving crypto exchange WazirX, now set for July 15, 2025, at 7:30 AM IST, with a backup date on July 16.
This new date follows the court’s decision to give WazirX additional time to present further arguments related to its ongoing restructuring efforts after a massive $234 million hack.
The rescheduling marks another key procedural step in what has become one of the most closely watched crypto legal battles in Asia.
WazirX, in a post on X, confirmed the revised hearing dates and acknowledged the court’s directive to submit new documents before arguments resume.
📢 Update on Proposed Scheme of Arrangement The Singapore Court has scheduled the hearing for further arguments in HC/SUM 940/2025 on 15 July 2025 at 7:30 AM IST (10:00 AM SGT) with a reserve date set for 16 July 2025, if needed (instead of 10 July 2025, with 11 July 2025 as
The exchange is currently attempting to rebuild credibility and operations following the major security breach that compromised user assets and left affected users with few answers over the last year.
WazirX ordered to submit new documents by July 4
The court has instructed WazirX to file a supplemental affidavit and written submissions no later than July 4, 2025.
While the exchange did not elaborate on the contents of the new filing, it said it is awaiting further instructions regarding attendance logistics for the hearing, which will be shared when confirmed by the court.
This development offers a narrow but important opportunity for WazirX to convince the court of its restructuring roadmap, even as users continue to wait for clarity on the future of their funds.
No comment from Shetty as users demand answers
Despite procedural advances, co-founder Nischal Shetty has remained publicly silent, offering no new updates since the initial disclosure of the breach.
Users have repeatedly tagged Shetty on social media seeking responses regarding the progress of the restructuring plan, the status of funds, or a timeline for reimbursements.
His silence has further fuelled community concerns about transparency and leadership accountability.
Earlier this year, 93% of voting creditors supported WazirX’s proposed restructuring. However, the company has not shared any follow-up communication on what the plan involves, nor how or when user losses might be addressed.
While securing creditor support was a milestone, the lack of public updates from senior leadership has led to speculation and uncertainty within the platform’s user base.
Why the July 15 hearing could shape WazirX’s future
The July 15 court date is shaping up to be a critical juncture for the exchange. Legal experts suggest the hearing may determine whether WazirX is allowed to proceed with its restructuring plan or whether further intervention will be needed.
The outcome could influence not just WazirX’s survival but also broader regulatory attitudes toward crypto platforms in Singapore and neighbouring regions.
Since the $234 million hack, the platform has provided minimal updates regarding fund recovery or internal investigations. For users still awaiting restitution, this hearing may provide the first real insight into the company’s direction and accountability.
The broader crypto industry is also monitoring the situation, as Singapore continues to evolve its approach to digital asset oversight.
With the hearing less than a month away, pressure is mounting on WazirX to not only meet the court’s requirements but also re-establish its standing among regulators and users alike.
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