WazirX Moves to Implement Its Recovery Plan

WazirX moves to implement its recovery plan: A sanctioned Scheme of Arrangement has been filed with ACRA. According to the exchange, this opens the distributions phase and the issuance of the Recovery Token under the approved scheme, and the platform will resume operations within 10 business days from the scheme’s effective date.

"We are pleased to share that the sanctioned Scheme of Arrangement has been duly filed with the Accounting and Corporate Regulatory Authority (ACRA) on 15 October 2025. The conclusion of the court proceedings and the filing of the order with ACRA paves the way for the implementation phase – where users will receive distributions and Recovery Token under the Scheme. The WazirX platform will restart within 10 business days from the Scheme’s effective date of 15 October 2025."

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What Does This Mean for WazirX Users?

Recall that on July 18, 2024, WazirX suffered a large-scale breach due to a multisig wallet incident with an estimated loss of about $234.9M. In 2025, the Singapore High Court sanctioned the Scheme of Arrangement, and on October 15, 2025, the filing with ACRA marked the transition to the implementation phase. In this configuration, the filing with ACRA becomes the regulatory point after which the exchange gained the ability to carry out distributions in the stated format and, in parallel, prepare to relaunch trading and payment functions.

Learn our detailed guide about Multisig Wallet: What Is Multisig and When It's Worth It.

Distributions and the Recovery Token indicate a combined settlement mechanism in which part of the claims is covered by cash payouts and part by an instrument reflecting users' participation in the recovery process. The relaunch of the platform within 10 business days is also important, as it at minimum synchronizes the technical infrastructure with the financial part of the scheme: exchange operations, inflows, and subsequent distributions must be executed in a coordinated sequence to minimize new operational risks when services are brought back online.

Operational Execution and Risks

To implement the scheme correctly, WazirX must synchronize several workstreams: accounting records of account balances as of the incident date, the order and calculation method for distributions, the issuance and circulation of the Recovery Token, and the restoration of key platform modules, including deposits and withdrawals, and the internal order books. Any discrepancies among these workstreams can lead to delays in crediting or to mismatches between calculated and actual liquidity.

Conclusion

Filing the sanctioned Scheme of Arrangement with ACRA and the announced relaunch window form a clear operational route for WazirX: a shift from the judicial phase to the practical fulfillment of obligations to users. At the next stage, the key factor will be the quality and tempo of execution – they will determine how fully and predictably the exchange implements the stated recovery plan. Stay tuned for the latest updates and opportunities in the new economy, crypto industry, and blockchain developments.