WazirX Resurfaces Stronger After Major Overhaul and Court Confirmation
India's once-dominant cryptocurrency exchange, WazirX, is poised to relaunch on October 24 following a year-long suspension triggered by a $230 million hack. The platform will initiate creditor repayments and resume trading with zero fees on USDT/INR and select crypto pairs.
A Singapore High Court-approved restructuring plan by parent company Zettai Pte. Ltd. enabled the revival, with majority creditor support. The exchange had frozen assets and entered bankruptcy proceedings after last year's security breach, which necessitated legal audits and technical migrations.
WazirX has partnered with institutional custody provider BitGo to restore user confidence. The comeback strategy includes distributing assets and issuing 'Recovery Tokens' to affected parties.
