WazirX, an embattled crypto exchange, received a reprieve from a Singapore court, allowing it to present additional arguments for its restructuring plan. This decision extends the moratorium protecting the company from creditor actions while it seeks to recover from a significant $234.9 million hack attributed to North Korean hackers. Following the initial rejection of its restructuring plan in early June, WazirX revealed its intention to move operations to Panama through a new subsidiary, Zensui Corporation. The court's extension is crucial for the 6.6 million users who have been locked out of their funds since the incident. The restructuring plan, supported by over 93% of creditors, aims to issue recovery tokens representing users' outstanding balances and track claims not covered by initial distributions. Despite the courtā€™s decision, experts note that users may face further delays as the recovery process unfolds amid ongoing legal complexities and uncertainty.

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