Indian cryptocurrency exchange WazirX is officially reopening for trading after a 16-month suspension that followed one of the largest digital asset heists in the country’s history.
The platform will restart operations on October 24, marking a major milestone in its recovery from the $230 million hack that forced it offline last year.
Gradual Rollout Begins This Week
According to the company’s latest blog post, trading will resume in multiple stages over a four-day period. The rollout will begin on October 24 and conclude by October 27, when all supported tokens will once again be available for trading.
Co-founder Nischal Shetty confirmed the relaunch on X, expressing gratitude to users who remained patient during the long downtime. “Your support helped us achieve the impossible task of restarting,” Shetty said. “Now we move to the next step – creating more value for everyone who has been impacted.”
Moving fast towards the WazirX restart!
Trading starts tomorrow, 24th October 🚀
0 Fee trading for minimum 30 days. We will try our best to extend even further! We want to be with our tribe and support you in whatever way we can.
Our focus is only YOU. We will do whatever it…
— Nischal (Shardeum) 🔼 (@NischalShetty) October 23, 2025
The platform has also reactivated both Indian rupee (INR) and crypto deposit services, allowing users to fund their accounts. A new token balance interface has been introduced to ensure greater transparency and easier access to wallet information as part of the revamped trading experience.
Recovery After Major Hack
WazirX’s comeback comes more than a year after the Lazarus Group, a notorious cybercrime organization linked to North Korea, carried out a sophisticated attack targeting the exchange’s multisignature wallet system. The hackers exploited a vulnerability that ultimately resulted in the loss of over $230 million in digital assets.
The breach led WazirX – which was India’s largest crypto exchange at the time – to suspend all trading operations while initiating a full-scale investigation and restructuring plan. The company worked with cybersecurity experts, regulators, and law enforcement agencies to trace the stolen assets and fortify its internal systems.
Legal and Financial Restructuring
A key turning point in the recovery process came last week when the Singapore High Court approved WazirX’s revised restructuring plan. The proposal received overwhelming support, winning approval from 95.7% of participating creditors.
This decision effectively cleared the final hurdle for the platform’s relaunch, ensuring that both regulatory compliance and creditor obligations were satisfied. The restructuring included provisions for debt resolution, operational rebuilding, and enhanced governance measures to prevent future incidents.
Industry observers view the court’s approval as a rare example of a crypto firm successfully navigating post-hack rehabilitation. By regaining regulatory trust and creditor backing, WazirX has positioned itself as one of the few exchanges to survive a high-profile breach of this magnitude.
Enhanced Security and Governance
While details of the new security framework remain confidential, insiders suggest that WazirX has implemented significant upgrades across its custody infrastructure, including expanded multisig protection, cold storage integration, and real-time monitoring systems.
The exchange also introduced third-party auditing and transparency reports as part of its renewed commitment to compliance and accountability. The company aims to rebuild user trust by demonstrating measurable improvements in security management and asset protection.
Shetty hinted that the exchange will continue to collaborate closely with regulators and cybersecurity experts moving forward. “This is not just a relaunch – it’s a rebuilding of the entire foundation,” one WazirX representative said privately, adding that future announcements will outline the exchange’s new product roadmap.
A Symbolic Moment for India’s Crypto Market
WazirX’s return is being viewed as a symbolic moment for the Indian crypto ecosystem, which has faced regulatory uncertainty and repeated enforcement actions over the past few years. Once one of the most active exchanges in the region, WazirX’s shutdown had left a significant gap in the market and shaken user confidence across local trading platforms.
Now, as global crypto regulation continues to mature, the exchange’s successful comeback could signal renewed optimism among Indian retail traders and developers. Analysts believe this may even influence how regulators approach future crypto exchange oversight within the country.
Rebuilding Trust After the Crisis
Although WazirX faces the challenge of regaining its former trading volumes and user base, the platform’s leadership remains confident in its ability to recover. The exchange is reportedly exploring partnerships with payment gateways and institutional players to expand liquidity and user accessibility.
Many long-time Pioneers of the Indian crypto community have applauded the team’s persistence in bringing the platform back online. However, some experts caution that restoring trust will take time, given the scale of the losses and the duration of the suspension.
Still, WazirX’s revival demonstrates that even after devastating security breaches, a carefully managed restructuring and transparent rebuilding process can restore both functionality and faith in the ecosystem.
As trading resumes and liquidity returns to the market, investors will be watching closely to see whether WazirX can reclaim its status as India’s flagship crypto exchange – and whether its long road to recovery sets a new precedent for resilience in the global digital asset industry.
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Source: https://coindoo.com/wazirx-resumes-trading-after-16-month-shutdown-following-230-million-hack/