WazirX Relaunches Trading with Zero Fees

WazirX, an India-based crypto trading platform, is set to relaunch its exchange on October 24 after a lengthy hiatus due to a $234 million hacking incident. In a move to regain user trust and liquidity, the platform will offer zero trading fees for at least 30 days. CEO Nischal Shetty announced the phased comeback, which includes a gradual enabling of all trading tokens from October 24 to October 27. Initial trading will focus on USDt Tether before expanding to other trading pairs. This strategy aims to facilitate user engagement without barriers as liquidity returns. During the downtime, WazirX refined its token offerings, delisting or merging several projects based on their stability and transparency. The exchange's relaunch follows a complex recovery process involving forensic investigations and negotiations with creditors, all of which culminated in a restructuring plan approved by a Singapore court on October 13.

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