India’s WazirX Relaunches With Enhanced Security and Recovery Plan

Cryptocurrency exchange WazirX, once India’s largest digital asset trading platform, is set to resume operations in India on October 24, 2025. The relaunch comes after the exchange successfully completed a restructuring process approved by the High Court of Singapore. The decision allows the platform to reopen following a security breach last year that froze assets and left thousands of users in limbo.

“At the heart of everything we do is our mission to make crypto accessible to every Indian,” Nischal Shetty, founder of WazirX, stated. “I want to thank the WazirX community for their patience through these difficult times.

The restart will initially include a limited number of crypto-to-crypto trading pairs and the USDT/INR pair, with additional markets being added in phases over the coming days. Crypto withdrawals will be available from October 24, while Indian rupee (INR) withdrawals are already enabled.

WazirX announced a zero-fee trading offer for all users during a limited-period “Restart Offer,” aiming to attract both returning and new investors to the platform.

Background on WazirX Suspension

In July 2024, WazirX was hit by a major security breach, reportedly by North Korea’s Lazarus Group. The attack exploited a vulnerability in the platform’s multisignature wallet system, resulting in the theft of over $230 million in digital tokens. The breach forced WazirX to suspend all trading operations and freeze withdrawals, creating one of the most high-profile collapses in India’s crypto history.

The fallout left thousands of creditors in uncertainty for over a year. WazirX’s parent company, Zettai Pte. Ltd., entered a Singapore High Court–approved restructuring process, which included forensic audits, migration plans, and consultations with creditors. The process received near-unanimous backing, paving the way for the platform’s relaunch.

Phased Relaunch and Trading Pairs

WazirX’s relaunch will be gradual. Initially, the exchange will focus on:

• Selected crypto-to-crypto pairs
• USDT/INR pair

Additional pairs and markets will be added in the following weeks. Crypto withdrawals will become available from October 24, while INR withdrawals have already resumed.

The platform’s zero-fee trading promotion will be active for a minimum of 30 days. WazirX has indicated that it may extend the offer to maintain user engagement during the restart phase.

Strengthening Security and Transparency

A major component of the relaunch is enhanced security. WazirX has partnered with BitGo, a global digital asset custody provider, to implement institutional-grade, insured custody solutions. This collaboration aims to prevent incidents similar to the 2024 breach and reinforce trust among users.

Shetty, emphasized the importance of security and transparency:

“Asset security is currently a crucial aspect of the global crypto ecosystem. Our partnership with BitGo adds an additional layer of trust and protection with world-class custody standards as we restart.”

The exchange has also updated its platform interface, including a refreshed token balance page, enabling clearer tracking of user assets and deposits.

Technical Enhancements

The exchange has implemented several technical measures to safeguard funds and streamline operations:

• Integration with BitGo for insured custody of digital assets.
• Phased addition of trading pairs to manage liquidity risks.
• Real-time monitoring and transaction auditing to detect suspicious activity.
• Updated KYC and AML protocols to comply with Indian regulatory requirements.

These enhancements are intended to rebuild user confidence and ensure compliance with domestic and international crypto regulations.

User and Market Reactions

The exchange’s collapse in 2024 was India’s most notable crypto incident, leaving users wary of platform reliability and safety. On social media, reactions were mixed:

• Some investors expressed excitement about the restart and zero-fee trading.
• Others voiced caution, questioning whether the platform could maintain security and operational integrity.

Shetty addressed these concerns directly, stating on X (formerly Twitter):

“Moving fast towards the WazirX restart! Trading starts tomorrow, 24th October. 0 Fee trading for a minimum of 30 days. We will try our best to extend even further! Our focus is only YOU.”

Recovery of Funds and Token Distributions

As part of the restructuring, WazirX plans to roll out token distributions and Recovery Tokens alongside the platform’s relaunch. These measures aim to compensate creditors affected by the 2024 security breach. While specific timelines for full recovery have not been disclosed, the restart provides the first clear roadmap for repayment.

Looking Ahead

The success of WazirX’s restart will depend on several factors:

• Maintaining platform security against cyber threats
• Gradually expanding trading pairs to meet user demand
• Ensuring timely recovery of lost funds for creditors
• Building trust with India’s retail crypto community

The phased approach and zero-fee trading are likely to encourage users to return, but the long-term challenge will be sustaining liquidity and demonstrating operational reliability.

Conclusion

WazirX’s resumption of operations in India marks a critical moment for both the platform and the country’s cryptocurrency market. With zero-fee trading, phased market additions, and institutional-grade security measures, the exchange aims to restore confidence among retail and institutional users alike. 

While challenges remain in recovering lost assets and ensuring long-term operational stability, the relaunch showcases WazirX’s capability to manage risk, enhance transparency, and safeguard user funds.

Resources:

WazirX to restart on October 24, along with crypto trading and withdrawals - report by the Hindu: https://www.thehindu.com/sci-tech/technology/wazirx-to-restart-on-october-24-along-with-crypto-trading-and-wihdrawals/article70193085.ece

WazirX to resume operations in India on Oct 24; here's all you need to know - report by Business Standard: https://www.business-standard.com/markets/cryptocurrency/wazirx-to-resume-operations-in-india-on-oct-24-here-s-all-you-need-to-know-125102300424_1.html

WazirX to Restart Trading on Friday After $230M Hack Caused Year-Long Shutdown - report by CoinDesk: https://www.coindesk.com/markets/2025/10/23/wazirx-to-restart-trading-on-friday-after-usd230m-hack-caused-year-long-shutdown