WazirX, once India’s largest cryptocurrency exchange by trading volume, will resume operations on October 24 following a year-long shutdown caused by a $230 million security breach. The relaunch, approved by Singapore’s High Court, is part of a restructuring plan led by parent company Zettai Pte. Ltd., backed by near-unanimous creditor support.
The 2024 hack froze user assets and halted withdrawals, triggering months of insolvency proceedings, audits, and platform migrations. Now, WazirX is reopening with crypto-to-crypto pairs and USDT/INR trading, offering zero fees as part of a “Restart Offer.”
To rebuild user confidence, WazirX has partnered with BitGo to provide insured institutional-grade custody of assets. The exchange’s comeback will serve as a major test of Indian retail trust in local platforms amid a strict tax environment and regulatory uncertainty. The relaunch marks the first concrete repayment and recovery timeline for thousands of affected users.
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