Summary of Relaunch Details
- •WazirX will restart trading on October 24, 2025.
- •The exchange is offering zero trading fees as part of a "Restart Offer" to regain user trust.
- •WazirX has partnered with BitGo for enhanced asset security and insurance coverage.
Exchange Set to Resume Operations
WazirX, which was once India's largest cryptocurrency exchange, is scheduled to resume trading operations on October 24, following a significant period of inactivity. This relaunch follows an extensive hiatus caused by a $230 million hack that led to insolvency proceedings. The initiative for the exchange's relaunch has received approval from the Singapore High Court. As a key part of its strategy to attract and regain the trust of its user base, WazirX will be offering zero trading fees through a special "Restart Offer."
The initial phase of trading will concentrate on major crypto-to-crypto pairs and the USDT/INR market. This strategic focus is considered a vital step towards re-establishing the exchange's presence and standing in the cryptocurrency market. The relaunch effort is being spearheaded by its new ownership, Zettai Pte. Ltd., which has assumed control of the exchange following its restructuring.
New Custodial Services to Secure Assets
As an integral component of its revival strategy, WazirX has entered into a partnership with BitGo, a prominent digital asset custodian. This collaboration will provide institutional-grade custodial services, which will be accompanied by comprehensive insurance coverage. The primary objective of this partnership is to ensure the robust security of platform assets, thereby fostering renewed confidence among users who were impacted by the previous security breach. The involvement of BitGo signifies a level of institutional support for this endeavor to resurrect the exchange.
This collaboration with BitGo represents a significant and deliberate move towards implementing enhanced security measures and bolstering user protection. By placing a strong emphasis on the security of assets, WazirX aims to effectively mitigate the concerns and fears of its users, ultimately establishing a safer and more secure trading environment for everyone involved.
Past Challenges and Future Directions
WazirX encountered substantial difficulties following a major security breach in 2024, which ultimately led to its insolvency. Subsequently, an in-depth forensic audit was conducted, culminating in a court-supervised restructuring process. The Singapore High Court granted the necessary approvals for the relaunch, with the support of creditors who expressed confidence in the new management structure operating under Zettai Pte. Ltd.
The initial stage of the trading revival will feature trading pairs for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). While specific details regarding future additions to the market have not yet been disclosed, the company intends to implement a phased reopening approach. Other altcoins may be incorporated into the platform's offerings as the exchange regains stability and as liquidity monitoring progresses effectively.
Community Sentiment and Regulatory Observations
WazirX's communications concerning the relaunch have primarily been directed towards creditor letters and disseminated through the platform's official blog. The absence of recent official tweets or statements from former key figures, including Nischal Shetty, has led to speculation among some members of the community. Despite these observations, concerted efforts are underway to rebuild user confidence in the platform.
Regulatory bodies, such as the Singapore High Court, have officially sanctioned the new operational structure for the exchange. However, there has been no recent commentary or feedback from Indian regulatory authorities, including the Securities and Exchange Board of India (SEBI) or the Reserve Bank of India (RBI), regarding the relaunch. Notwithstanding these regulatory observations, the exchange emphasizes its strategic initiatives aimed at "enhancing trust and safety," which signals a comprehensive reset in its operational framework.