WazirX, once India’s largest cryptocurrency exchange by volume, will resume operations on October 24, according to an email sent to creditors.
It ends more than a year of uncertainty for thousands of creditors left in limbo after one of the most dramatic collapses in the country’s crypto history, in which more than $230 million of various tokens were stolen from the exchange.
The restart follows a Singapore High Court-approved restructuring under Zettai Pte. Ltd., WazirX’s parent company, which received near-unanimous backing from creditors earlier this year.
It was the latest step in a process that began after a massive security breach last year froze assets, shut down withdrawals and effectively took India’s oldest crypto platform offline.
For many, the road to recovery has been slow. Creditors spent months waiting for clarity while the exchange navigated insolvency proceedings, forensic audits and migration plans. Wednesday’s announcement marks the first concrete timeline for refunds, with token distributions and Recovery Tokens expected to go live alongside the relaunch.
WazirX said that trading will initially reopen with a handful of markets, including crypto-to-crypto pairs and USDT/INR, and that all users will enjoy zero trading fees at launch as part of a “relaunch offer.”
The exchange’s return will test whether India’s retail crypto community, battered by tax burdens and repeated platform failures, still has faith in local exchanges. WazirX is doing the necessary to increase trust and security by partnering with BitGo to protect platform assets through institutional grade insured custody solutions.
Once a dominant player in India’s crypto boom, the fall of WazirX last year left a lasting scar on user confidence. One that even a successful reboot might not easily fix.
