Exchange Relaunches with Enhanced Security and Phased Trading Strategy
WazirX, formerly India's largest cryptocurrency exchange, will resume trading activities on October 24, 2025, introducing zero trading fees. The relaunch follows a court-approved restructuring, subsequent to a $230 million hack and a year-long shutdown.
The resumption of WazirX's operations signifies the exchange's effort to regain its foothold in the crypto industry, aiming to restore user confidence and liquidity. It highlights the extensive restructuring measures implemented post-collaboration with Singapore High Court directives.
Background and Restructuring Process
The collapse of WazirX was marked by a staggering $230M hack, leading to insolvency, inactivity, and a need for substantial reorganization. Zettai Pte. Ltd., the parent company, led the court-supervised restructuring, facilitating a phased return to operations with zero trading fees for 30 days.
Revised Trading Strategy and Market Reaction
WazirX's revival includes a phased token trading launch, starting with major cryptocurrency pairs, such as BTC and ETH, and USDT/INR markets. Implementation of trading increments aims to systematically reintroduce liquidity while ensuring security through collaboration with BitGo.
Crypto exchanges like Mt. Gox have historically gone through similar insolvency and recovery phases. WazirX aims for systematic trust restoration via its rollout of Recovery Tokens. The community remains observant of developments post-relaunch, monitoring market reactions and liquidity restoration.
Security Enhancements
While WazirX's zero-fee strategy seeks to encourage participation, the broader crypto community requires evidence of improved security measures. Enhanced measures introduced through the BitGo partnership assure institutional-grade custody, crucial for rebuilding trust among former and prospective users.
Regulatory Insights and Industry Implications
WazirX's case highlights regulatory oversight in addressing cryptocurrency exchange stability. Insights offer potential shifts in practices for industry participants, emphasizing technological upgrades and legal frameworks. Historical instances suggest a pathway for exchanges grappling with significant breaches.
Official Statement
"We are ready to begin the next chapter for WazirX with the platform restart, bringing trading back steadily and completely. In the coming days, our focus will be on enabling trading for all tokens safely, testing each phase carefully, and ensuring every user has a smooth trading experience." - WazirX Official Blog