Is WazirX's "Restart" Tomorrow Trustworthy? Nischal Shetty Looks Back At Lessons Learnt

India's largest crypto exchange, WazirX, is set to make a highly anticipated comeback tomorrow, October 24, 2025. The platform was put on hold for over a year following a massive security breach that shook the entire cryptocurrency ecosystem. In an exclusive interview, Nischal Shetty, Co-Founder and CEO of WazirX, shared his insights on what went wrong and how the exchange plans to bounce back stronger than ever.

WazirX's decision to shut down its operations was a result of a series of unfortunate events. In 2022, the exchange fell victim to a massive hack that resulted in the theft of millions of user funds. The incident not only eroded trust among investors but also raised questions about the regulatory framework governing cryptocurrency exchanges in India.

Since then, WazirX has been working tirelessly to rectify the situation and ensure that its users' interests are protected. According to Shetty, the exchange has undergone a significant restructuring plan, which includes the implementation of robust security measures and improved risk management protocols.

"We have learned from our past mistakes and have taken concrete steps to prevent such incidents in the future," said Shetty. "Our new system is designed to provide an enhanced level of security, transparency, and user protection."

WazirX has promised that its relaunch will come with a renewed focus on user trust and security. The exchange claims to have implemented cutting-edge technologies to safeguard user data and prevent any future breaches.

"We are committed to providing our users with a safe, secure, and trustworthy platform," emphasized Shetty. "Our goal is to build long-term relationships with our users and establish ourselves as one of the leading players in the Indian crypto market."

While some may be skeptical about WazirX's ability to regain user trust, Shetty remains optimistic about the exchange's prospects. "We have made significant strides in addressing our past shortcomings, and we are confident that our new system will provide users with a seamless and secure trading experience," he said.

Only time will tell if WazirX's relaunch tomorrow will be successful in regaining user trust. One thing is certain, however - the exchange's commitment to improving its security measures and protecting user interests is laudable, and investors will be watching with bated breath as the platform embarks on this new chapter.