About a year ago in July 2024, following a sophisticated cyberattack affecting a significant portion of the Platform assets, we engaged Kroll Pte Limited as our financial advisors and Rajah & Tann Singapore LLP as our legal advisors in Singapore to assist with an application to the Singapore High Court to obtain a moratorium and to work out restructuring options. Among other things, the restructuring solution proposed had to account for the uncertainty surrounding the ownership of the Platform and the fact that the Platform liabilities exceeded the Platform assets as a result of the cyberattack.
We are pleased to announce that Zettai Pte. Ltd. has successfully proposed a scheme of arrangement (the “Scheme”) pursuant to section 210 of the Companies Act, which has been approved by the requisite majority of creditors and sanctioned by the Singapore Court with modification on 13 October 2025. On 15 October 2025, the Order of Court setting out the Singapore High Court’s sanction of the Scheme was lodged with the Accounting and Regulatory Authority of Singapore. Accordingly, the Scheme takes effect from 15 October 2025.
We look forward to continuing to work together with all our stakeholders.
Please do not hesitate to reach out to us at [email protected] if you have any queries.
Yours sincerely,
Team WazirX
