WazirX has officially restarted its trading operations, over a year after a significant security breach forced the platform offline. To rebuild confidence and attract users back, the exchange is offering zero trading fees across all markets for the initial 30 days, describing this as a “phased, transparent restart.” This move is critical not only for restoring WazirX’s own liquidity and user trust but also for the broader recovery of India’s cryptocurrency market. However, users eager to withdraw their funds will need to exercise patience, as withdrawals are temporarily suspended on the platform.
Phased Relaunch Designed to Rebuild Liquidity and Boost Investor Confidence
This relaunch comes after a Singapore court approved WazirX’s restructuring plan earlier this month, paving the way for the company to progressively re-establish user access and market liquidity. The exchange anticipates that investors will finally be able to reclaim approximately Rs. 4,000 crore in funds that were inaccessible after the breach. Trading is resuming gradually, with about 25 percent of all tokens being activated daily, beginning with the USDT/INR pair. Other Indian Rupee markets are expected to follow soon. Order placement initiated at 10am IST, with trade matching starting at 5pm IST.
WazirX announced on Twitter: “Phase 1: 71 Trading Pairs Now Live on WazirX! You can now place orders across 70 trading pairs in the USDT market as a part of the phased rollout. In the INR market, USDT/INR pair is live, with other pairs coming soon. To ensure a smooth and stable trading experience…”
According to WazirX, this methodical activation is designed to “safely restore liquidity, confirm technical stability, and guarantee a smooth return to normal trading.” While withdrawals in Indian Rupees (INR) are already active, cryptocurrency withdrawals are also in the process of being gradually enabled.
Nevertheless, some users have reported difficulties in making withdrawals. The company had previously communicated a 10-day business timeline, which concludes on October 30, for full withdrawal access to be reinstated. Therefore, users might still need to wait a few more days for withdrawals to become fully available, assuming the crypto firm adheres to its stated schedule.
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During the period of outage, several tokens underwent changes, resulting in delistings, swaps, or mergers as part of the relaunch. WazirX emphasized that every remaining listed token has been rigorously reviewed against its listing standards, prioritizing transparency, technical stability, and project integrity. A comprehensive list of delisted and swapped tokens is available.
Industry leaders have widely praised this restart as a pivotal moment for India’s cryptocurrency landscape. Edul Patel, CEO of Mudrex, remarked that it’s “a defining moment for India’s crypto industry,” highlighting how robust exchanges prioritize user protection even after major breaches. He added that despite a lingering 15 percent shortfall, the methodical recovery and clear communication demonstrate a strong commitment to rebuilding trust, both within the platform and the wider industry.
Ashish Singhal, Co-Founder of CoinSwitch, echoed this sentiment, emphasizing the importance of restoring user confidence. He stated, “The industry’s collective focus should now be on rebuilding lost trust, most importantly by ensuring that user funds are fully recovered and protected going forward.” Singhal also advised investors to prioritize platforms demonstrating strong compliance and transparency.
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The resumption of WazirX’s operations signifies a crucial comeback for what was formerly India’s largest crypto exchange by volume. This event reflects a renewed determination within the domestic crypto community to navigate the complex balance between regulation, fostering trust, and achieving sustainable growth.
An embedded video provides further context and explanation regarding the situation.
Disclaimer: Cryptocurrency is an unregulated digital currency, not legal tender, and inherently subject to market risks. The information presented here is for informational purposes only and does not constitute financial or trading advice. We are not responsible for any losses incurred from investments based on information in this article.