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Sohrab KhawasSohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
- Oct 23, 2025 08:12 UTC
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India’s WazirX Exchange to Restart Trading on October 24 After $230 Million Hack
WazirX to resume trading on October 24 after $230 million hack and suspension.
Court-approved restructuring received over 95% creditor support, led by parent company Zettai Pte. Ltd.
WazirX relaunch features zero-fee trading on select pairs to restore market activity and confidence.
WazirX, once India’s largest cryptocurrency exchange by volume, is preparing to reopen on October 24, 2025, following a massive $230 million hack that forced a year-long suspension and bankruptcy.
The comeback was confirmed in an email sent to creditors this week and marks the end of a long recovery process for thousands of affected users.
WazirX Set to Resume Operations on October 24
According to the company’s announcement, the exchange completed a court-approved restructuring under the Singapore High Court and received over 95% of support from its creditors.
The restructuring was led by Zettai Pte. Ltd., WazirX’s parent company, marking the final stage in its recovery process.
This plan was pivotal for reviving the exchange after a massive $230 million was wiped out in one of the most significant cyberattacks in India’s crypto history.
WazirX Trading Relaunch With Zero-Fee Offer
In the first phase of the relaunch, WazirX will reopen select trading pairs, including USDT/INR and several crypto-to-crypto markets.
The exchange will also introduce a “Restart Offer”, allowing all users to trade with zero transaction fees for a limited period. This move aims to encourage user activity and rebuild market confidence.
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To strengthen security and ensure full asset protection, WazirX has partnered with BitGo, a leading U.S.-based digital asset custodian. All platform assets will now be stored in insured, institutional-grade custody wallets, compliant with international standards.
User Asset Recovery Plan
WazirX confirmed that it has launched a user asset recovery plan to compensate those affected by the 2024 hack. Creditors will also benefit from Recovery Tokens (RTs), offering a pro-rata share in future revenue and recovered assets.
The exchange’s revival comes at a time when confidence in Indian crypto platforms remains fragile, strained by high taxation and multiple exchange failures.
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FAQs
WazirX is officially reopening on October 24, 2025, after a year-long suspension due to a security breach and subsequent restructuring process.
Affected users are compensated via a dedicated asset recovery plan and will receive Recovery Tokens, granting a share in future revenue and any additional recovered assets.
The initial relaunch will feature key pairs like USDT/INR and several crypto-to-crypto markets, with a phased approach to reintroducing more options.
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