WazirX, once the largest cryptocurrency exchange in India, will resume operations on October 24, ending more than a year of disruption following a hack that resulted in 230 million USD worth of tokens being stolen. The reopening comes after the Singapore Supreme Court approved the restructuring plan of the parent company Zettai Pte. Ltd., which is largely supported by creditors.
In this return, WazirX will release a refund token and “Recovery Tokens”, while offering free trading for crypto-crypto pairs and USDT/INR during the initial stage. The exchange also collaborates with BitGo to protect assets with insured custody solutions.
The event marks the recovery efforts of the platform that once dominated the Indian cryptocurrency market, where investor confidence is being undermined by high taxes and numerous exchange collapses. WazirX hopes this comeback will restore user trust.
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