As WazirX inches closer to completing its court-supervised restructuring in Singapore, thousands of users are anxiously awaiting the most important question: When can I finally access my funds?
The good news is that the process is well underway — and the recent affidavits filed in the Singapore High Court clarify the steps users will need to follow. Suppose the court sanctions the Scheme (a strong likelihood, given the overwhelming support from creditors during the voting process). In that case, users can expect withdrawals to open shortly after — but with certain steps required to ensure legal and security compliance.
A Clear Timeline for First Distribution
According to the latest affidavit submitted by the company, it intends to begin First Distribution withdrawals within 10 business days of the Scheme’s Effective Date — provided there are no legal obstructions.
This First Distribution will cover the Rebalanced Net Liquid Platform Assets as calculated and disclosed to users earlier this year. These are the assets preserved after the hack and the Binance fallout, now securely held under Zettai’s custody.
WazirX already knows each eligible user’s entitlement from this pool. Therefore, the technical readiness is not in question — the platform is simply awaiting the final green light from the Singapore Court.
The Re-KYC Process: A Necessary Compliance Step
However, accessing these funds isn’t automatic. As directed by FIU-IND and a part of the restart process, WazirX has recently introduced a re-KYC (Know Your Customer) process for all users. This step aligns with Indian regulatory expectations, especially since the platform now operates under a new custodial structure with enhanced compliance mechanisms.
The re-KYC process requires users to verify their identity, PAN details, and in some cases, update their banking and contact information. While some may view this as a hurdle, it’s actually a protective measure — helping prevent fraud, impersonation, and unauthorized access during the fund withdrawal phase.
The re-KYC window is already open, and users are encouraged to complete it as soon as possible to avoid delays once withdrawals go live. Here’s a complete guide to WazirX’s Re-KYC process – Read here
Support and Clarity for Users
WazirX has committed to providing dedicated support channels for users needing help with re-KYC or understanding their asset balances. According to the affidavit, the company will also update its platform interface to clearly show eligibility, withdrawal status, and timelines, ensuring users aren’t left guessing.
In fact, the Scheme documentation itself is being amended to improve clarity, including user-friendly FAQs and explainer content — a shift from legalese to plain language that most users can follow easily.
A Sign of Responsible Rebuilding
While the road to recovery hasn’t been smooth, these latest steps indicate that WazirX isn’t just restarting — it’s doing so with a stronger compliance framework and greater user transparency than before. The focus now is on execution: ensuring that users who have waited patiently since the cyberattack can finally reclaim their assets.
If the Scheme is approved, and all signals suggest it will be, WazirX users could be just days away from a long-awaited milestone: access to their crypto funds.
