Étienne Girard
WazirX, one of India’s largest cryptocurrency exchanges, is officially resuming trading operations this Friday, marking a major milestone 16 months after a massive $230 million hack forced the platform offline.
Co-founder Nischal Shetty confirmed on X (formerly Twitter) that trading will restart on October 24. According to WazirX’s official blog, the exchange will gradually reactivate trading pairs over four days, with full operations expected to resume by October 27.
Expressing gratitude to the community, Shetty wrote, “Your support helped us achieve the impossible task of restarting. Now we move to the next step—creating more value for everyone affected.”
Earlier this week, WazirX also announced that Indian rupee (INR) and crypto deposits are now open on the platform. Additionally, users can access an updated token balance dashboard, signaling a full return of core trading functions.
The Hack That Shook India’s Crypto Industry
In July 2024, WazirX confirmed that it had been hacked by North Korea’s Lazarus Group, which exploited a vulnerability in the exchange’s multisignature wallet system. The cyberattack resulted in the loss of more than $230 million in digital assets.
Following the breach, the platform immediately halted all trading activity, a move that left thousands of Indian crypto investors in limbo.
Court Approval Clears the Path for Recovery
After months of restructuring efforts, the Singapore High Court approved WazirX’s revised recovery plan last week. The proposal received overwhelming support from 95.7% of participating creditors, effectively giving the exchange the green light to resume full operations.
The comeback of WazirX marks a turning point for India’s crypto sector, proving that even after a devastating hack, strategic rebuilding and community support can revive a leading digital asset platform.
