Thu Oct 23 09:22:42 UTC 2025: News Article:
WazirX Crypto Exchange to Relaunch After Devastating Hack, Restructuring
Singapore/New Delhi – October 23, 2025: Indian cryptocurrency exchange WazirX is set to resume operations on Friday, October 24, 2025, over a year after a massive security breach led to a $230 million loss and a subsequent restructuring exercise conducted in Singapore.
Founder Nischal Shetty announced the relaunch on X, confirming that the “funds” page with rebalanced tokens is now live. Both crypto and INR deposits are open, with crypto withdrawals scheduled to begin on Friday. “Crypto trading and withdrawals, both start from tomorrow. We will continue to add more tokens to the trading and withdrawal list,” Shetty posted.
The exchange, which primarily served Indian customers and positioned itself as compliant with Indian regulations, opted for restructuring through the High Court of Singapore. Investors overwhelmingly approved the restructuring scheme in two rounds of voting.
The primary concern for many WazirX users is gaining access to their locked-up funds and determining the remaining balance in their accounts. The exchange faced criticism at the time of the hack for delayed communication, abrupt withdrawal suspensions, the decision to restructure in a foreign court, and the lack of a dedicated customer compensation fund.
To incentivize users to return the relaunch will have 0% trading fees across all trading pairs. The phased relaunch will begin with select crypto pairs and the USDT/INR pair, with plans to expand markets in the near future. WazirX also announced a partnership with BitGo.
“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…This isn’t just a return to operations, it’s a reinforcement of our integrity which we’ve always strived for,” said Shetty.
Summary of The Hindu publication (October 23, 2025):
The Hindu published an article about the WazirX crypto exchange relaunching operations after a major security breach in July 2024. The exchange will restart on October 24, 2025, with deposits now open and withdrawals opening tomorrow. This is after a Singapore court approved restructuring. The exchange faced heavy criticism, and is offering 0% trading fees at launch. The Hindu also publishes the following weekly content: “The View From India”, “First Day First Show”, “Today’s Cache”, “Science For All”, “Data Point”, “Health Matters”, and “The Hindu On Books.”
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