WazirX Relaunch 2025: along with crypto trading and withdrawals

The Collapse: What Happened to WazirX?

Back in mid-2024, WazirX faced a crippling cyberattack. According to documented reports, over US$230 million worth of digital assets were stolen, traced to a known actor—the North-Korean-linked Lazarus Group.
By mid-July 2024 the platform froze withdrawals and trading, shocked users and triggered panic in India’s crypto ecosystem.
The fallout included insolvency proceedings, a complicated restructuring under its parent company Zettai Pte. Ltd. in Singapore-jurisdiction, and a long period of silence from the exchange on when things might be back to “normal”.

The Return: What’s Changing?

WazirX’s resumption is built around several key moves:

• Restart date set for 24 October 2025. Trading will resume in phases, initially focusing on selected crypto-to-crypto pairs and the USDT/INR pair, with full functionality expected shortly after.
• Zero trading fees at launch. As part of its “Restart Offer”, all users will be able to trade without paying trading fees for a period, designed to encourage activity and rebuild trust.
• Major custody & security upgrade. WazirX has partnered with BitGo—a well-known institutional digital-asset custodian—to manage platform assets with “institutional-grade, insured custody solutions”.
• Phased rollout for safety. The exchange plans to enable tokens over a four-day schedule from 24 to 27 October, in order to limit risk, monitor liquidity, and ensure a stable restart.

Why This Matters for Indian Crypto Users

For many in India, this is not just about WazirX coming back; it represents much broader issues:

• Restoring user confidence. After a major loss of trust (due to the hack and shutdown), users will be watching closely whether WazirX can genuinely deliver on safety, transparency, and reliability.
• Market message. If WazirX can successfully relaunch, it may signal to other Indian exchanges that rebuilding is possible, but only with strong security, governance and user-friendly terms.
• Regulatory backdrop. With crypto regulation in India still evolving, this restart coincides with the judiciary and regulators paying more attention to how digital assets are treated legally and how exchanges operate.
• Competitive dynamics. By offering zero-fee trading at launch and enhanced custody, WazirX is trying to re-establish itself as a major player—this could shift the competitive landscape among Indian crypto platforms.

Key Risks to Keep in Mind

While the return of WazirX is newsworthy, there are several caution flags to recognise:

1. Withdrawals still uncertain. Reports indicate deposits have been reopened, but full withdrawal functionality may still be phased or delayed.
2. Liquidity and pair availability. The initial offering will focus on selected pairs—not all tokens and markets will be live immediately. Users trading less popular tokens may face delays or limited options.
3. Trust rebuild takes time. Even with assurances of upgraded security, many users will remain sceptical. Prior performance (hack + shutdown) casts a long shadow.
4. Regulation & oversight ambiguity. India’s crypto regulatory framework remains in flux; issues around asset custody, crypto taxation, investor protection are still being shaped. The court rulings (e.g., crypto as property) hint at change.

Looking Ahead: What to Watch

If you’re a user, trader or just following crypto in India, here are a few things to keep an eye on:

• Token-by-token rollout updates. Check how quickly additional pairs and markets go live after 27 October.
• Withdrawal status. Even if trading resumes, whether users can withdraw assets (crypto + INR) smoothly will be a key test.
• Recovery-token distribution. WazirX has promised recovery tokens to creditors/users impacted by the hack shutdown — how and when these are delivered matters.
• User experience & customer support. How the platform handles glitches, communication, liquidity issues will signal its readiness.
• Regulatory clarity. Keep an eye on how Indian regulators respond to WazirX’s relaunch—any regulatory action or comments might influence other players.

Final Thoughts

WazirX’s impending restart is more than just the return of one exchange—it could mark a turning point for crypto in India. If successful, it may set a new standard for how platforms operate: stronger security, more transparency, better user terms. If it falters, the lessons may be tough but necessary for the entire ecosystem.

For Indian crypto users, the message is: proceed, but prudently. The zero-fee launch is attractive, but know which pairs are active, understand withdrawal terms, and don’t treat this restart as a guarantee of past performance. Most importantly, view this as a fresh chapter—for WazirX, for India’s crypto market, and for how exchanges will rebuild trust in the years ahead.