India-based crypto 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 the company will resume 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 expand further! We want to be with our tribe and support you in any way we can,” Shetty wrote on X, adding that they will do what it takes to help users be successful.
The re-compliance follows a one-year suspension of trading activity after the platform was frozen following 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 the stability of its system, restore liquidity and ensure a “smooth, transparent restart.”
During the phased rollout, users can place orders at 10:00 am India Standard Time (IST), with order matching starting at 5:00 pm IST. Markets will first reopen USDT (USDT) trading pairs, while India-based rupee-based trading will only start with a USDT/Rupee pair before expanding to other tokens.
The company said the temporary zero-free offer aims to allow users to re-engage on the platform without friction as liquidity returns. It said the program could be expanded depending on market response.
Wazirx added that while the platform is inactive, the token projects have undergone changes. As a result, the exchange announced that it was removing some tokens and replacing or combining others based on developments within the projects.
The exchange adds periodic reviews of listed tokens to ensure they meet their transparency, technical stability and integrity standards. When tokens no longer meet the requirements, they are deleted or replaced as necessary.
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The Wazirx restart follows a year of inactivity
The Wazirx restart follows a lengthy recovery process that began after a $234 million hack in July 2024. On July 18, the attackers dried assets from a secure multisig wallet linked to the exchange, forcing it to suspend withdrawals.
The incident triggered months of forensic investigations, asset tracking and negotiations with creditors. The Singapore-based company, Zettai, later entered into the reorganization of the court Procedures.
The process involved months of procedures, involving actions from creditors, Wazirx and the Singapore High Court. Eventually lead to an approval of the restructuring plan on October 13, allowing the exchange to proceed with the restructuring plan.
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