The Power of a ‘Second Chance’ in Crypto
When things go wrong in the world of crypto, recovery often feels like a pipe dream. But for users of WazirX a unique window has reopened—a court-sanctioned second chance to vote on the amended Scheme of Arrangement that can determine how they recover funds and move forward.
In this article, we'll explore why the WazirX revote matters, what’s changed since the first vote, and how you can play a role in reclaiming your crypto rights.
The Story So Far: What Led to the Revote?
WazirX’s Singapore-entity, Zettai Pte Ltd, originally proposed a Scheme of Arrangement in December 2024. The goal? To resolve creditor claims, restructure obligations, and restart operations in a lawful and orderly way.
Over 93% of creditors by number (and over 94% by value) voted in support of that scheme.
Yet, the Singapore High Court had a few legal concerns—particularly about recent changes in crypto regulations. Rather than dismiss the effort, the Court approved a revote, allowing Zettai to present an amended, more robust scheme to all creditors.
What’s Different This Time?
✅ Court-Approved Revisions
Compliant with Singapore’s Financial Services and Markets Act (FSM Act), effective June 2025.
Ensures that all operations and fund distributions follow legal frameworks in both Singapore and India.
✅ All Creditors Get to Vote Again
Whether or not you voted last time, you now have a fresh opportunity to participate. This revote isn’t just symbolic—it determines the legal path forward.
✅ New Townhall and Voting Schedule
Townhall Date: July 30, 2025 (Youtube Live)
Voting Window: July 30 – August 6, 2025
All verified creditors can vote, including those who missed the last round.
Why Should Users Support the Revote?
1. Legal Protection for Your Rights
Once approved, the scheme becomes binding on all parties—including non-voters—so voting ensures your voice counts in how funds are distributed.
2. Strengthened Operational Clarity
The revised scheme builds on the original framework by providing even greater clarity around the distribution process and platform operations. It now includes:
Defined timelines for when funds will be credited to user accounts
Step-by-step guidance for initiating and completing withdrawals
Updated KYC and compliance protocols aligned with current regulatory standards
These refinements ensure that users know exactly what to expect, reinforcing transparency and trust at every stage.
3. Court-Endorsed Accountability
This isn’t just a company promise. It’s a legally binding plan, backed by the Singapore court and subject to independent auditing.
FAQs About the Revote
Who can vote?
Any Scheme Creditor who has an approved claim.What if I don’t vote?
If a majority of creditors vote in favor and the court sanctions the scheme, it will become binding on all creditors—including those who did not participate in the vote.Where do I vote?
Via the secure platform login shared with Scheme Creditors.
Key Benefits of the Revote
- Legally Compliant: The revised scheme aligns with the latest regulatory standards under the FSMA, ensuring a smooth and lawful process.
- Transparent & Court-Backed: Sanctioned by the Singapore High Court, the process is fully documented and independently assessed.
- Equal Opportunity: All approved creditors—whether or not they voted previously—can participate and have their say.
- Clear Timelines & Processes: From KYC to withdrawals, every step is outlined so users know exactly what to expect.
Why Your Vote Matters
The WazirX revote isn’t a redo—it’s a redemption. This second vote offers every user a seat at the table, legal protection, and a pathway to unlocking their frozen assets.
If you believe in fairness, transparency, and crypto accountability—vote YES.
So be sure to:
✔️ Check your login.
✔️ Read the revised Scheme.
✔️ Vote between 30 July and 6 August 2025.
Your future with WazirX depends on it.
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