WazirX to Restart Trading on Friday After $230M Hack Caused Year-Long Shutdown

After a year-long shutdown, India's oldest cryptocurrency exchange, WazirX, is set to resume trading operations on October 24. The announcement comes after the exchange underwent a Singapore High Court–approved restructuring under Zettai Pte. Ltd., its parent company, which received near-unanimous backing from creditors earlier this year.

The restart follows a massive security breach last year that froze assets, shuttered withdrawals, and effectively took WazirX offline. The breach resulted in the theft of over $230 million worth of various tokens from the exchange, leaving thousands of creditors in limbo for months.

For many, the road to recovery has been slow. Creditors spent months awaiting clarity as the exchange navigated insolvency proceedings, forensic audits, and migration plans. Wednesday's announcement marks the first concrete timeline for repayments, with token distributions and Recovery Tokens expected to go live alongside the relaunch.

WazirX is doing the needful to enhance trust and safety by partnering with BitGo to safeguard platform assets through institutional-grade, insured custody solutions. Once a dominant player in India's crypto boom, WazirX's downfall last year left a lasting scar on user confidence. One that even a successful restart may not easily repair.