WazirX Returns: India’s Largest Crypto Exchange Restarts After 15 Months with Full Refunds and Free Trading

 

WazirX Resumes Operations After 15-Month Hiatus Following Major Hack

India’s largest cryptocurrency exchange, WazirX, officially resumed trading and withdrawals on October 24, 2025, nearly 15 months after a major cyberattack forced the platform to halt operations. The relaunch marks a significant milestone for India’s crypto industry, signaling renewed confidence in exchange security and user asset protection.

The Background: A 235 Million Cyberattack

WazirX, which serves over 6.6 million registered users, was taken offline in July 2024 following a $235 million cyberattack that targeted the exchange’s multi-signature wallets—handling nearly half of the platform’s total holdings. The attack triggered a long period of operational suspension while the company focused on recovering user funds and overhauling its security protocols.

Source: Bitinning X

The breach not only affected the exchange’s reputation but also sent ripples across India’s cryptocurrency ecosystem, prompting regulators and investors to scrutinize cybersecurity measures across all digital asset platforms.

Singapore High Court Approves Recovery Plan

The revival of WazirX operations follows a key judicial decision. On October 13, 2025, the Singapore High Court approved WazirX’s restructuring and recovery plan, paving the way for a staged resumption of trading and withdrawals in India.

The approved plan ensures that:

• 85% of user balances as of July 18, 2024, will be refunded immediately.

• 15% of balances will be distributed over three years through profits and recovered assets.

This framework aims to provide transparency and security for users while ensuring the exchange’s operations can restart on a sound footing.

Enhanced Security Measures

To prevent a recurrence of the breach, WazirX has partnered with BitGo, a US-based cryptocurrency custodian firm. BitGo will provide insured custody for user assets, significantly strengthening the security of digital holdings on the platform.

The partnership underscores WazirX’s commitment to regulatory compliance, cybersecurity, and user trust, which were all impacted by the prolonged outage. “Our priority is to rebuild confidence among our users and demonstrate that WazirX remains a safe platform for cryptocurrency trading,” the company stated.

Relaunch Strategy and Trading Incentives

To attract users back to the platform, WazirX is introducing several incentives during the relaunch phase. Notably, selected crypto pairs, including USDT/INR, will carry zero trading fees for early adopters.

The relaunch is planned in multiple stages:

• Phase 1: Reactivation of crypto-to-crypto trading pairs and the USDT/INR market.

• Phase 2: Gradual introduction of additional trading pairs over the coming months.

All deposits and withdrawals are now active, allowing users to regain access to their accounts securely. The staged approach ensures that liquidity, security, and operational stability are maintained throughout the reactivation process.

Guidance for Users Reclaiming Funds

WazirX has provided detailed instructions on how users can recover their balances. The initial distribution of 85% of funds is immediate, while the remaining 15% will be disbursed over three years, ensuring that funds are returned safely and systematically. Analysts suggest that the structured recovery plan will minimize potential operational disruptions while restoring confidence among traders.

Implications for India’s Crypto Market

The reopening of WazirX is a positive development for India’s cryptocurrency market, which has faced regulatory uncertainty, cybersecurity threats, and intermittent exchange shutdowns over recent years. Industry experts believe that WazirX’s return, coupled with enhanced security measures and judicial oversight, could set a benchmark for compliance and operational resilience in the Indian crypto sector.

Despite the promising relaunch, investors are advised to verify account balances and ensure compliance with personal security measures. Prior to the hack, WazirX ranked among India’s top exchanges, with more than 16 million registered users, highlighting the scale of its market influence.

Conclusion: A Path to Recovery and Confidence

The return of WazirX after 15 months of inactivity demonstrates both resilience and a commitment to security in India’s emerging cryptocurrency ecosystem. The exchange’s approval by the Singapore High Court, the BitGo partnership for insured custody, and zero-fee trading incentives are all designed to rebuild trust and attract users back to the platform.

As the relaunch progresses in phased stages, WazirX aims not only to restore operations but also to establish a model for secure and compliant cryptocurrency trading in India. For investors and users, the return of India’s largest exchange signals renewed optimism for digital asset adoption, demonstrating that even after major setbacks, the market can recover and evolve with stronger safeguards.

Writer @Ellena

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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