In a significant development, the Singapore High Court has given the decision in favour of Zettai Pte Ltd, allowing the company to convene a scheme meeting with the users of the cryptocurrency exchange, WazirX. This decision is a significant step in Zettai’s efforts to distribute assets associated with WazirX to users, and to revive operations of the platform. The Court granted a 16-week moratorium to Zettai, which provides the necessary time and legal protection to carry out the restructuring process. In addition, the Court also granted permission to Zettai to vary the scheme meeting process, which is intended to streamline the process and facilitate the participation of more users in the scheme meeting.The Court found that there was no abuse of process and also observed that there was no proper or sufficient evidence presented before the Court of wrongdoing or misconduct, contrary to suggestions made by certain users of the platform that Zettai had orchestrated the cyberattack. This observation comes at a crucial time, following a joint statement from the governments of the United States, Japan, and South Korea identifying the North Korean Lazarus group as responsible for the cyberattack. The Court also took note that whilst there may be a number of creditors who have voiced objections to Zettai’s application, there is also the possibility of a silent majority of users who support the application but have decided to be passive in the process.Zettai wishes to take this opportunity to reiterate its commitment to addressing user concerns and implementing a comprehensive restructuring plan to facilitate recovery for users of the platform in a structured manner.