WazirX to resume operations, 15 Months after cyberheist

Mumbai: Indian cryptocurrency exchange WazirX will resume operations almost 15 months after it suffered a $235 million cyberhack which stole nearly half of the platform's holdings.

The decision follows the Singapore High Court giving a green signal to its restructuring plan.

As per the approved restructuring plan, the company expects to return 85% of user balances, as of July 18, 2024, 1 PM IST. The balance 15% shall be returned over the next three years from profits and recoveries, it said.


As part of an effort to win back user trust, WazirX will offer zero trading fees across all pairs. Prior to the hack, WazirX was a leading crypto trading platform in India with 16 million users.

In a statement on Thursday, WazirX said the operations will now reopen in phases, beginning with crypto-to-crypto trading pairs and the USDT/INR market. More pairs will be added in the coming days.

The relaunch comes with a renewed focus on security and asset protection, it said. WazirX announced a partnership with BitGo, a US-based crypto custodian, to manage its digital assets.