WazirX to Resume Trading Friday After Year-Long Shutdown Following $230M Hack

WazirX, once India’s largest cryptocurrency exchange by volume, will officially reopen on October 24, ending more than a year of uncertainty for creditors and users alike. The announcement came via email to stakeholders, following a prolonged shutdown triggered by a massive security breach last year that froze assets, halted withdrawals, and effectively took the platform offline.

The exchange’s restart comes after a Singapore High Court–approved restructuring under its parent company, Zettai Pte. Ltd., which received near-unanimous support from creditors earlier this year. This marks the final step in a recovery process that included insolvency proceedings, forensic audits, and migration planning.

Trading will initially resume with a limited set of markets, including crypto-to-crypto pairs and USDT/INR, accompanied by zero trading fees at launch under a “Restart Offer.” Creditors can also expect token distributions and Recovery Tokens to go live alongside the relaunch.

To rebuild trust after last year’s breach, WazirX is partnering with BitGo to provide institutional-grade, insured custody for platform assets, aiming to reassure users amid India’s cautious retail crypto landscape, weighed down by taxes and prior platform failures.

While the restart signals a major milestone for India’s oldest crypto exchange, regaining user confidence remains a challenge. WazirX’s successful relaunch will test whether the local crypto community is ready to re-engage with a platform scarred by one of the country’s most dramatic crypto collapses.