wazirx

The cryptocurrency exchange WazirX, once the largest platform in India, has made significant strides in its efforts to recover stolen assets from the 230 million USD hack in July 2024. After 4 months of investigation and legal coordination, #WazirX successfully froze 3 million USD in USDT.
The asset recovery journey
The cyber attack on WazirX resulted in a loss of 45% of the exchange's reserves, with ERC-20 tokens on the $ETH network being the primary targets. Immediately after the incident, WazirX initiated investigations and obtained a temporary order from the Supreme Court of Singapore to suspend payment obligations for 4 months to proceed with debt restructuring.

Date: 23 October 2025
A year in the crypto world is very long. And WazirX, which was once India's largest exchange, completely went dark after the $230M hack in July 2024. Now finally, after court-approved restructuring (under Zettai Pte. Ltd., Singapore), WazirX is making a comeback. Relaunch is happening on 24 October 2025 — and honestly, this looks like the biggest comeback in India's crypto history.

Rumour.app has it that after more than a year of total silence following the infamous $230 million Lazarus Group hack, India’s WazirX exchange is suddenly staging a dramatic comeback — offering zero-fee trading for 30 days in what looks like an all-out PR redemption arc.
The problem? Not everyone’s buying it.

The crypto community still remembers the liquidity freeze, the suspicious fund movements, and the finger-pointing between Binance and WazirX that followed the 2022 meltdown.
ZachXBT didn’t hold back either — his post went viral:
“Smoking crack is likely safer than trusting WazirX.” 💀
Despite the skepticism, early traders are circling like vultures — hunting quick arbitrage, wash-trade incentives, and hoping the exchange has truly upgraded its security architecture. But can trust really be rebuilt when reputations have already burned?
Would you dare to deposit a single sat there again — or is this just the calm before another rug? 🧐
#WazirX #Traderumour $ALT @rumour.app #traderumour

India’s leading crypto exchange, WazirX, is making its comeback on October 24, 2025, following a court-approved restructuring after a major hack.

As part of its “Restart Offer”, WazirX will roll out zero trading fees across all pairs for the first 30 days.



🔍 Why This Matters for Crypto
The relaunch comes after a ~$230-$235 million hack and year-long shutdown — a major test of user confidence.
Zero-fee trading may drive mass inflows, boost trading volumes, and reignite interest in Indian crypto markets.
This move could impact global platforms too — as Indian users look to trade locally, liquidity patterns may shift across regional exchanges.


📊 What Traders Should Watch
Monitor volume spikes in the new WazirX markets (initial pair USDT/INR + crypto-crypto) starting Oct 24.
Ensure your asset transfers and wallet balances are ready ahead of the relaunch — liquidity may be volatile.
Watch regional coin demand: increased Indian market activity could influence altcoin flows globally.



❓Micro-Questionnaire for Traders
1️⃣ Will you trade on WazirX when it resumes?

2️⃣ Do you think zero-fee trading will significantly boost Indian market volume?

3️⃣ Could a rejuvenated Indian exchange increase global altcoin liquidity?


Drop your thoughts 👇

#WazirX #cryptoindia #ZeroFeeTrading #BinanceFeed #CryptoMarkets

Crypto exchange WazirX is moving forward with its recovery efforts after last year’s $234 million hack, as nearly 95% of creditors voted in favor of a revised restructuring plan. This decision comes after the Singapore High Court rejected an earlier proposal over regulatory concerns.
Fresh Vote and Revised Plan
According to WazirX, around 150,000 creditors participated in the latest vote, representing more than $206 million of affected funds. The plan retains the recovery token model, which allows users to receive tokens representing unrecovered balances. These tokens will be repurchased gradually using profits and recovered assets, with holders eligible for periodic payouts.
Operational Shift and New Entity Involvement
One major adjustment is the management of repayments. Instead of being handled by WazirX’s Singapore-based parent company Zettai, the responsibility will now fall under Zanmai India, an entity regulated by India’s Financial Intelligence Unit. Additionally, the exchange created Zensui Corporation in Panama to oversee services previously run out of Singapore.
Timeline and User Concerns
WazirX founder Nischal Shetty stated that if the Singapore High Court approves the plan, operations could restart and user compensation could begin within 10 days. This is significantly faster than the earlier two to three-month timeline estimated by restructuring advisor George Gwee of Kroll.
However, without creditor support, repayments could be delayed until 2030, leaving liquidation of assets as the only fallback option. Many users remain skeptical of the shifting corporate structures and regulatory obstacles. Some also raised concerns about unaffected holders whose tokens appreciated since the hack, potentially leaving them at a disadvantage under the recovery scheme.
Next Steps
While creditor approval marks progress, the revised restructuring plan still requires review from the Singapore High Court. As of now, WazirX has not issued an updated timeline for when compensation will begin.
The post appeared first on CryptosNewss.com
#WazirX $WRX