ChainCatcher reported that according to official news, Indian crypto trading platform WazirX announced on Wednesday that it had requested six months from the Singapore High Court to restructure its debts. This move will trigger a 30-day automatic moratorium. The hearing date for the court to decide whether to approve the moratorium has not yet been determined.
WazirX said its co-founder Nischal Shetty requested the court to order that no resolution be passed to wind up Zettai (the company that operates WazirX); and no execution, attachment or other legal process be commenced, continued or levied against any property of Zettai except with the leave of the court. A moratorium will provide Zettai with breathing space to restructure, which is the most efficient way to resolve the cryptocurrency balances of users on the platform and facilitate user recovery.
Earlier news, WazirX was hacked in July and lost $230 million.
