WazirX to Restart Trading After Singapore-Approved Restructuring

WazirX, once India’s largest cryptocurrency exchange by volume, will restart trading on Friday, October 24, following more than a year offline after a major security breach that froze customer assets. The exchange’s Singapore‑based parent, Zettai Pte. Ltd., completed a court‑approved restructuring and said trading will resume in a phased manner with limited markets, including crypto-to-crypto pairs and a USDT‑INR market.

The relaunch follows a July 2024 hack that drained roughly $230 million from a Safe Multisig wallet linked to the platform, forcing WazirX to suspend withdrawals and halt operations. The company and its parent then undertook months of forensic audits, asset tracing and negotiations with creditors. Creditors voted in favor of a restructuring scheme in successive ballots, and the Singapore High Court approved the restructuring plan in October, clearing the way for a restart.

WazirX said token distributions and the issuance of Recovery Tokens will begin alongside the relaunch, providing a mechanism for creditors to recover some of their locked assets. The company also announced a temporary zero trading fee offer intended to boost liquidity and encourage user...