India-based crypto trading platform WazirX will restart its exchange on Friday, following a long hiatus caused by a $234 million hacking incident.
WazirX CEO Nischal Shetty said in a Thursday announcement that the company will relaunch trading on Friday. He added that the platform will offer zero trading fees for at least 30 days as part of a phased reboot.
“We will try our best to extend even further! We want to be with our tribe and support you in whatever way we can,” Shetty wrote on X, adding that they will do what it takes to help users become successful.
The relaunch follows over a year of halted trading activity after the platform was frozen in the aftermath of a major security breach in July 2024.
WazirX to gradually enable trading for all tokens
In a blog post, the company said it will gradually enable trading for all tokens from Friday to Monday to test its system’s stability, restore liquidity and ensure a “smooth, transparent restart.”
During the phased rollout, users will be able to place orders at 10:00 am India Standard Time (IST), with order matching starting at 5:00 pm IST. Markets will initially reopen with USDt (USDT) trading pairs, while its Indian rupee-based trading will start with only a USDT/rupee pair before expanding to other tokens.
The company said its temporary zero-free offer aims to allow users to re-engage with the platform without friction as liquidity returns. It said the program could be extended depending on the market’s response.
WazirX added that while the platform was inactive, token projects underwent changes. As a result, the exchange announced that it had delisted some tokens and swapped or merged others based on developments within the projects.
The exchange added that it periodically reviews listed tokens to ensure they meet their transparency, technical stability and integrity standards. When tokens no longer meet the requirements, they are delisted or swapped where required.
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WazirX restart follows over a year of inactivity
The WazirX restart follows a prolonged recovery process that started after a $234 million hack in July 2024. On July 18, attackers drained assets from a Safe Multisig wallet linked to the exchange, forcing it to suspend withdrawals.
The incident triggered months of forensic investigation, asset tracing and negotiations with creditors. The exchange’s Singapore-based parent company, Zettai, later entered court-supervised restructuring proceedings.
The process involved months of procedures, which involved actions from creditors, WazirX and the Singapore High Court. It eventually led to a restructuring plan approval on Oct. 13, allowing the exchange to proceed with its restructuring plan.
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