WazirX to Resume Trading and Withdrawals More Than a Year After $234M Hack

WazirX, the Indian crypto exchange, is set to resume operations on October 24, 2025, more than a year after a cyberattack resulted in the theft of $234 million. The exchange will implement zero trading fees across all markets for a minimum of 30 days to regain user trust. Following a restructuring plan backed by 95.7% of creditors, the platform will gradually restore full functionality, starting with crypto-to-crypto trading and INR pairs. While users could recover 75% to 80% of their frozen balances through a proposed recovery token system, some have reported receiving only a fraction of their expected amounts. To enhance security post-hack, WazirX has partnered with BitGo for institutional-grade custody solutions. The restart has elicited mixed reactions, with some users expressing concerns over operational transparency and financial discrepancies. The Delhi High Court has mandated the disclosure of WazirX's acquisition agreement with Binance amidst ongoing creditor demands for greater transparency regarding the restructuring process.

Source 🔗