WazirX to Resume Trading on October 24, Ending 16-Month Halt After $230M Exploit

Indian crypto exchange WazirX announced it will resume trading on Friday, October 24. This marks a major step toward restoring normal operations following a crypto heist that drained over $230 million from the platform back in July 2024.

The relaunch follows a Singapore High Court–backed restructuring effort that cleared key legal hurdles. This decision enabled WazirX’s parent company and its creditors to proceed with a recovery plan. It also helped unlock the path to restarting trading and coordinating token distributions to affected users.

WazirX Relaunch Plan

The exchange plans a phased relaunch that begins tomorrow, aiming to bring users back onto the platform quickly and safely. According to an official blog post, WazirX will offer zero trading fees for at least 30 days to ensure a seamless trading experience. The platform said it would roll out trading in phases over four days to keep systems stable during the restart.

The phased rollout is designed to restore liquidity safely and confirm technical stability. It also aims to ensure a gradual and reliable return to normal trading across all market pairs. Recall that the exchange partnered with Zodia Custody in March to rebuild the exchange’s security. 

Market observers say the restart will test whether the exchange can win back traders and liquidity. For many users, the zero-fee window will provide an incentive to return and check balances. 

Token Updates

Meanwhile, the firm highlighted that several token projects had undergone major changes during the period of inactivity. Thus, they explained that, as part of its due diligence and adherence to listing standards, it delisted certain tokens. It has also completed swaps or mergers based on project-led developments.

“At WazirX, we periodically review every listed token to ensure it continues to meet our standards of transparency, technical stability, and project integrity. When a token no longer meets these standards or when the project itself changes direction, we take the necessary steps to protect our users – including delisting or swapping where required,” the firm said. 

WazirX’s return carries broader implications for India’s crypto market. If the exchange stabilizes and honors creditor plans, it could set a blueprint for other troubled platforms. Conversely, any operational or security missteps could deepen skepticism among users and policymakers.

The post WazirX to Resume Trading on October 24, Ending 16-Month Halt After $230M Exploit appeared first on CoinTab News.