WazirX, India's foremost cryptocurrency trading platform, is poised for a significant comeback, with trading, deposits, and withdrawals scheduled to recommence on October 24, 2025. This highly anticipated revival follows a year-long suspension of services triggered by a substantial security breach. A cornerstone of this relaunch plan is the exchange's pledge to reimburse all creditors impacted by the hack within ten business days of resuming operations.
The return of WazirX is met with cautious optimism and keen observation from the investment community. Many investors previously voiced their disappointment and concerns regarding the handling of the exchange's shutdown in mid-2024. Nischal Shetty, co-founder and CEO of WazirX, has actively communicated the impending restart, highlighting a commitment to user support, including a promotional offer of zero-fee trading for a minimum of 30 days. This initiative, coupled with a restructuring plan approved by over 95% of creditors and regulatory clearance from Singapore's ACRA, aims to progressively restore liquidity and ensure a stable return to full trading capabilities. In an effort to enhance security and rebuild confidence, WazirX has also forged a partnership with BitGo, a U.S.-based digital asset custodian, to secure exchange assets within insured, institutional-grade wallets.
Looking back at the journey of building WazirX, CEO Nischal Shetty shared critical insights that have influenced his subsequent ventures. He stressed the paramount importance of resilience and transparency in the volatile crypto landscape, emphasizing that an open and user-centric response to crises is fundamental for long-term credibility. Furthermore, Shetty underscored the necessity of designing scalable systems from inception to accommodate rapid growth and unexpected pressures. Lastly, he highlighted the effectiveness of a localized approach, asserting that WazirX's success stemmed from prioritizing and resolving India-specific challenges before expanding to global competition. This philosophy of adaptability and user-focused development is expected to guide the exchange's future endeavors, ensuring a more secure and reliable platform for its users.