WazirX to Resume Trading After 16-Month Closure Following $230M Heist

WazirX will resume crypto trading on Friday after 16 months. The exchange is offering zero-fee trading and enhanced security measures.

WazirX, a prominent Indian cryptocurrency exchange, is set to resume full trading operations. This return comes after a substantial period of closure overall, spanning 16 months. The platform had stopped activities after a huge crypto heist. Furthermore, the co-founder, Nischal Shetty, confirmed restart on X. Crypto trading will officially resume on October 24.

WazirX Resumes Operations After Securing Debt Plan Nod

Initially, the platform experienced a massive security breach in 2024. In particular, the hack led to the loss of about $230 million of user assets. The attack was made on a vulnerability in a multi-signature wallet. Moreover, researchers later blamed hackers associated with North Korea for the sophisticated attack.

Subsequently, the exchange was mercilessly criticized for its initial proposals. According to WazirX, a controversial plan was recommended earlier. This plan was aimed at ‘socializing’ the losses among all customers equally. Indeed, this proposal was highly criticised by the wider community at the time.

However, WazirX has recently achieved an important milestone. Furthermore, the Singapore High Court gave its go-ahead to the revamped version of the debt restructuring plan. As a result, this approval was obtained on October 13, 2025. The plan was then filed officially with the ACRA.

Therefore, the exchange is now on a crucial implementation stage. It is during this phase that fund distributions will begin to the users. Additionally, they will be given new Recovery Tokens. Ultimately, these steps are well outlined in the approved restructuring scheme as a whole.

In preparation for the restart, WazirX has worked on security. Specifically, the exchange is partnering with BitGo, a US-based custodian. This partnership is to help significantly increase the security of all assets for the users. Consequently, this move deals well with the vulnerabilities of the past.

Moreover, trading will start with a strong incentive as user. Therefore, WazirX is offering ZERO trading fee for all markets. This offer includes an exchange of any available token available to users for free. This period of zero fee will last for 30 days initially.

WazirX to Enable Full Trading by Oct. 27 After Gradual Start

The platform will closely evaluate the user response. Based on this community response, the offer may be made extended further. Furthermore, trading will be made possible on a step-by-step basis during a period of four days. This cautious approach is aimed at stability.

Initially, trading will start from October 24, 2025. Each day, approximately 25% of all tokens will be turned on for trading. The platform will become fully functional by October 27. This phased activation gives users time to calmly review orders before, during activation.

Specifically, all the tokens will be activated for trading in the USDT market instantly. Conversely, as opposed to other markets, the USDT/INR pair is the only pair that will go live in the INR market initially. Therefore, other INR trading pairs will be enabled later on gradually.

During this time, real-time Last Traded Prices (LTP) will show for enabled tokens. However, markets that are not live will temporarily include prices from CoinMarketCap (CMC). This way a smooth and transparent restart process will be guaranteed.

The exchange also has a number of future offerings in the works. These are the following, including the launching of a new decentralized exchange (DEX). In addition, WazirX will have the tradable Recovery Tokens. Ultimately, the platform has planned on periodically buying back these tokens. These buybacks will be made from profits generated by the exchange.