Delhi High Court has ordered Zettai Pte Ltd, the Singapore-based operator of crypto exchange WazirX, to reveal its acquisition agreement with Binance and provide full details of its restructuring efforts in Singapore.
The decision follows increasing demands for transparency from creditors affected by the $235 million WazirX hack in July 2024. The court instructed Zettai to file the Binance agreement and submit all related court documents within a week.
This legal scrutiny arises as WazirX concluded a second vote on its amended restructuring plan, after the Singapore High Court rejected the earlier version.
The issue of ownership remains contested. Binance has repeatedly stated that it never completed the WazirX acquisition and has distanced itself from the platform’s operations, despite having signed an initial agreement in 2022.
The case, filed by creditors Sudhir Verma and Kunal Dhariwal, highlights the broader regulatory and legal pressure facing crypto platforms operating under unclear corporate structures and facing unresolved hacking incidents.
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