WazirX Users Give Mixed Response to Singapore Moratorium Approval
After the Singapore High Court approved the moratorium application of Nischal Shetty representing WazirX crypto exchange, the users have mixed response to the court order, some hailing the move while some still questioning the intent behind it, as they eagerly await their funds retrieval post the Rs 2000 crore hack.
Singapore High Court judicial commissioner Kristy Tan, on Thursday morning, approved the moratorium application filed by Shetty vis-a-vis Zettai Pte Ltd, the Singapore based parent entity of WazirX. As per judge, the moratorium will give four months breathing space to WazirX management against any legal cases with four certain conditions put by the judge.
The exchange management is supposed to organize an independent voting of all its users to seek support of their restructuring scheme and then get it approved again by court within next four months.
The four conditions laid down by judicial commissioner Kristy Tan are:
- Publish Wallet Addresses of WazirX through court affidavit.
- Public Book of Accounts of WazirX through court affidavit.
- Respond to users’ queries and grievances.
- Run a poll for seeking support of restructuring process on an independent platform.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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