WazirX announces the resumption of trading operations with zero fees starting October 24, 2025, utilizing BitGo for enhanced security in response to a $240 million hacking incident.
The restart, following a significant hack, highlights increased security measures, aiming to restore user trust and bolster market liquidity amid cautious investor scrutiny.
Exchange Relaunches with Enhanced Security and Zero-Fee Incentive
WazirX is commencing operations with zero trading fees on October 24, marking a return after halting due to a massive security breach in May. This breach resulted in a $240 million hack, leading to a full review of security measures.
Founder Nischal Shetty confirmed the development, highlighting a partnership with BitGo for enhanced security. The exchange underwent complete fund rebalancing and wallet restructuring to accommodate future trading activities securely.
"We’ve completed fund rebalancing and wallet restructuring after the hack. INR and crypto deposits are active. Withdrawals and trading resume Oct 24 with 0 trading fees for 30 days. Security enhanced via @BitGo partnership. We seek your continued support during this phased comeback." — Nischal Shetty, Founder, WazirX
The exchange's reopening impacts all listed pairs, including BTC and ETH, as traders regain confidence. The collaboration with BitGo, a globally recognized custodian, plays a central role in reestablishing secure operations. The phased reopening aims for a secure revival of market activity.
Financial effects include an anticipated increase in trading volumes due to the zero-fee incentive and investor interest. The strategic emphasis on security reassures the community, fostering market enthusiasm and positive market forecasts. Insights indicate potential market stabilization and recovery in trading volume. Historical records from similar hacks show periods of rapid growth once trust is reinstated through transparent protocols. The evolving situation remains under scrutiny to ensure liquidity.
Key Details of the Relaunch
- •WazirX resumes trading with zero fees after security upgrades.
- •Trading starts October 24, with zero fees for 30 days.
- •BitGo partnership enhances security and asset protection.