WazirX Resumes Trading After $230 Million Hack Recovery

TLDR

• WazirX will restart trading on October 24, 2025.
• The exchange offers zero trading fees to regain user trust.
• WazirX partners with BitGo for enhanced asset security.

WazirX, once India’s largest cryptocurrency exchange, is set to resume trading on October 24 after a significant hiatus. This move follows a $230 million hack that led to insolvency proceedings, with the relaunch initiative being approved by the Singapore High Court. Importantly, WazirX will offer zero trading fees as part of a “Restart Offer,” aiming to attract and regain user trust.

The initial trading will focus on major crypto-to-crypto pairs and the USDT/INR market. This is seen as a crucial step towards restoring its position in the market. The relaunch effort is under the new ownership of Zettai Pte. Ltd., which has taken over the reins following restructuring.

New Custodial Services to Secure Assets

As part of its revival strategy, WazirX has partnered with BitGo to provide institutional-grade custodial services accompanied by insurance coverage. This partnership aims to safeguard platform assets, thus helping build trust among users who were affected by the past hack. The involvement of BitGo is a sign of institutional support in this resurrection effort.

This collaboration with BitGo indicates a strong move towards enhanced security and user protection. By prioritizing asset security, WazirX hopes to mitigate user fears and establish a safer trading environment.

Past Challenges and Future Directions

WazirX faced considerable challenges due to the massive security breach in 2024 that led to its insolvency. An exhaustive forensic audit followed, culminating in a court-supervised restructuring process. The Singapore High Court provided the necessary approvals for relaunch, backed by creditors showing confidence in the new management structure under Zettai Pte. Ltd.

The initial Stage of trading revival will include BTC, ETH, and USDT pairs. While the specifics of future market additions are not disclosed, the company plans a gradual reopening. Other altcoins may be included as the platform regains stability and liquidity monitoring progresses.

Community Sentiment and Regulatory Observations

WazirX’s communication regarding the relaunch has been focused mainly on creditor letters and through its platform’s blog. The absence of official tweets or statements from former leaders, including Nischal Shetty, has left some community members speculating. Nevertheless, efforts are being made to redevelop user confidence.

Regulatory bodies like the Singapore High Court have sanctioned the new operating structure. However, there is no recent feedback from Indian regulatory authorities such as SEBI or the RBI regarding the relaunch. Despite this, the exchange highlights its strategic moves to “enhance trust and safety,” signaling a comprehensive reset in operations.