WazirX Resumes Trading After 16-Month Shutdown
- WazirX resumes trading with zero fees post $230M hack shutdown.
- Founder Nischal Shetty emphasizes asset security.
- Partnership with BitGo enhances user asset protection.
WazirX, once India’s largest crypto exchange, resumes operations on October 24, 2025, with zero trading fees after a 16-month shutdown due to a $230M hack.
This phased relaunch, under the oversight of Zettai Pte. Ltd. and sanctioned by the Singapore High Court, aims to restore user trust with enhanced asset security and strategic partnerships.
On October 24, WazirX resumes operations after a 16-month hiatus following a $230M hack. The relaunch includes zero trading fees, highlighting a court-approved restructuring effort. This phased return marks a critical moment in India’s cryptocurrency sector.
Nischal Shetty, WazirX Founder, played a pivotal role in the relaunch. The company has partnered with BitGo for improved asset security. Zettai Pte. Ltd. oversees the restructuring with Singapore High Court approval, reinstating user trust through this initiative.
The crypto market’s reaction is cautiously optimistic, with WazirX’s zero-fee trading expected to attract significant user interest. This strategic move follows global exchange recovery trends, aiming to boost liquidity and restore confidence in the aftermath of major security breaches.
Financial implications are paramount as WazirX’s recovery scheme involves token distribution to creditors, albeit without on-chain TVL data. This legal arrangement signals increased regulatory engagement within Singapore, affecting market dynamics and legal precedents in crypto reboots.
User asset management has undergone strict enhancement with BitGo, providing institutional-grade custody. Historical comparisons with past crypto breaches demonstrate the challenges faced by WazirX, highlighting the necessity of robust security frameworks in exchange operations.
The resumption of trading, starting with BTC, ETH, and USDT pairs, indicates a gradual liquidity increase. Historical data from similar recovery processes reveal the importance of phased rollouts to maintain market balance and user confidence amid previous industry challenges.
“At the heart of everything we do is our mission to make crypto accessible to every Indian. I want to thank the WazirX community for their patience through these difficult times. Asset security is currently a crucial aspect in the global crypto ecosystem. Our partnership with BitGo adds an additional layer of trust and protection with world-class custody standards, as we restart. This isn’t just a return to operations, it’s a reinforcement of our integrity which we’ve always strived for.” – Nischal Shetty, Founder, WazirX
