WazirX to Restart Trading Friday After $230M Hack and Year-Long Shutdown
WazirX, once India’s largest cryptocurrency exchange by volume, will resume operations on October 24, ending over a year of uncertainty for users and creditors. The platform went offline last year after a $230 million security breach froze assets and halted withdrawals.
The relaunch follows a Singapore High Court–approved restructuring under WazirX’s parent company, Zettai Pte. Ltd., with near-unanimous support from creditors. The process included insolvency proceedings, forensic audits, and migration planning, culminating in a clear timeline for repayments.
Trading will reopen with a limited set of markets, including crypto-to-crypto pairs and USDT/INR, with zero trading fees at launch under a “Restart Offer.” Recovery Tokens and token distributions are expected to go live simultaneously.
To restore trust, WazirX is partnering with BitGo for institutional-grade, insured custody solutions, aiming to reassure users in India’s cautious retail crypto market. Despite the restart, regaining confidence after last year’s breach remains a significant challenge.
