According to a statement released by WazirX, a four-month moratorium has been granted to the platform by a Singapore court on Thursday with certain conditions attached.
These conditions require WazirX to disclose the addresses of its Wallets through a court affidavit, respond to user inquiries, reveal its financial records within six weeks, and ensure any future voting processes are carried out on an independent platform.
The exchange had previously suffered a hack in July where $234 million, or 45% of its customers’ funds, were lost. WazirX had initially requested a six-month moratorium.
The hacker responsible for the hack has almost completed the process of laundering the stolen funds by using Tornado Cash to conceal the transactions. WazirX’s legal advisors have stated that it is unlikely that customers will be fully compensated in terms of cryptocurrency.
The case was heard by a Judge on Wednesday and the verdict was delivered on Thursday.
