October 16, 2024<\/p>\n\n\n\n
By Our Correspondent<\/p>\n\n\n\n
Singapore\u2019s Judicial Commissioner of the Supreme Court, Kristy Tan, informed WazirX users during a hearing regarding a moratorium application that she lacked the authority to instruct the Singapore Police Force to investigate the cyber hack, nor could she compel the Indian police to take action.<\/p>\n\n\n\n
These remarks were made by Tan on September 26 during an online court session concerning the WazirX moratorium application, following numerous requests from WazirX users via chat messages urging the judge to initiate a police inquiry into the Rs 2000 crore hack.<\/p>\n\n\n\n
The court transcripts were released on Monday, October 14, after WazirX distributed them to all users in compliance with the Singapore court’s directives. During the live Zoom hearing, Kristy Tan addressed WazirX creditors, stating, \u201cThe first thing you need to understand is that the Singapore Court does not have the power to order our Singapore Police Force to do anything.\u201d<\/p>\n\n\n\n
She further elaborated, \u201cSo I don\u2019t have the power, okay, to ask the Singapore Police Force to investigate the cyberattack, and much less, of course, do I have any power to ask the Indian authorities to investigate it, okay?\u201d While these statements were disheartening for WazirX victims, she emphasized that the hearing was exclusively focused on evaluating the WazirX moratorium application and determining its approval.<\/p>\n\n\n\n
The court had previously granted a four-month moratorium period to Zettai Pvt Ltd on September 5. In reviewing the WazirX moratorium application, the court took into account a survey conducted among WazirX creditors to assess support for the moratorium. In this survey, 78,011 out of 4.4 million creditors participated, representing claims totaling $82 million.<\/p>\n\n\n\n
Among these, 72,120 respondents supported the moratorium application, accounting for 92.45% of the claims, or approximately $64 million. Conversely, 1,491 creditors opposed the moratorium application, representing 1.91% of the claims, which amounted to $203 million.<\/p>\n\n\n\n
The attention has now fully transitioned to Zettai’s restructuring plan; however, some individuals remain apprehensive regarding the WazirX hack. They are calling for an independent investigation to uncover the underlying cause of this unusual hacking event.<\/p>\n","protected":false},"excerpt":{"rendered":"
October 16, 2024 By Our Correspondent Singapore\u2019s Judicial Commissioner of the Supreme Court, Kristy Tan, informed WazirX users during a hearing regarding a moratorium application that she lacked the authority to instruct the Singapore Police Force to investigate the cyber hack, nor could she compel the Indian police to take action. These remarks were made […]<\/p>\n","protected":false},"author":4,"featured_media":6527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6524","post","type-post","status-publish","format-standard","has-post-thumbnail","category-uncategorized"],"yoast_head":"\n