WazirX noted that it is still working towards the issuance of recovery tokens to creditors [File]
| Photo Credit: REUTERS
The WazirX crypto exchange will restart operations on Friday (October 24, 2025), with the news coming over a year after a debilitating security breach of a digital wallet in July 2024 led to more than $230 million in losses and a months-long restructuring exercise in Singapore.
WazirX founder Nischal Shetty confirmed on X on Thursday (October 23, 2025) that the ‘funds’ page with rebalanced tokens was live, and that both crypto and INR deposits were open, while crypto withdrawals will start a day later.
“Crypto trading and withdrawals, both start from tomorrow. We will continue to add more tokens to the trading and withdrawal list,” he posted on Thursday, adding that INR withdrawals were already live.
WazirX served Indian customers and marketed itself as an exchange compliant with Indian laws, but chose to pursue its post-hack restructuring exercise through the High Court of Singapore.
The crypto exchange carried out two rounds of voting in order to have investors vote either for or against its restructuring scheme. The majority of voters backed the scheme on both occasions.
For many WazirX users who have waited over a year for operations to restart, their priority is withdrawing their locked up crypto funds and learning how much of their deposited or invested total is still left in their accounts.
At the time of the hack, WazirX was criticised for failing to update customers in time, cutting off withdrawals without adequate warning, taking its restructuring process to a foreign court, and not compensating customers through a dedicated crisis fund.
The exchange has announced 0% trading fees across all trading pairs as part of its restart offer. The relaunch will begin in a phased manner with some crypto pairs as well as the USDT/INR pair, with the expansion of additional markets expected in the coming days.
“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,” said Shetty.
Published – October 23, 2025 02:52 pm IST
