Crypto Exchange WazirX to Reopen on Friday After $230M Security Breach

WazirX to Resume Trading Friday After $230M Hack-Induced Hiatus

India’s oldest cryptocurrency exchange, WazirX, is set to reopen on October 24, more than a year after a major security breach froze assets and halted withdrawals. The incident, which saw over $230 million in crypto stolen, effectively took the platform offline and left thousands of creditors in limbo.

The relaunch follows a Singapore High Court–approved restructuring under WazirX’s parent company, Zettai Pte. Ltd., backed nearly unanimously by creditors earlier this year. Months of insolvency proceedings, forensic audits, and migration planning have culminated in this first concrete timeline for repayments and recovery.

Trading will resume initially with selected markets, including crypto-to-crypto pairs and USDT/INR, alongside zero trading fees under a “Restart Offer.” Token distributions and Recovery Tokens are expected to go live at the same time.

To restore confidence, WazirX has partnered with BitGo to provide institutional-grade, insured custody for assets, aiming to reassure users amid India’s cautious retail crypto environment.

While the restart marks a critical milestone, the exchange faces the challenge of rebuilding trust with users still wary after one of India’s most dramatic crypto collapses.

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