A Singapore court has granted Indian cryptocurrency exchange WazirX a four-month moratorium after the company requested a temporary reprieve.
- The terms include full transparency of wallet addresses and financial records.
- The exchange must provide an account book within six weeks and respond to user queries.
- Voting on future actions must be done on an independent platform.
The decision comes after a major hack in July, in which $234 million was stolen, affecting 45% of customer funds.
- The court noted that the exchange acted in “good faith” in its efforts to protect creditors.
- The company’s founder, Nischal Shetty, stressed the importance of quickly seeking a moratorium.
Meanwhile, blockchain data shows that the hacker has almost completed the process of laundering the stolen funds using the Tornado Cash service.