WazirX, a leading crypto exchange in India, is preparing to resume operations after a year-long hiatus due to a significant cyberattack. The platform focuses on regaining user trust and aims for a fresh start.
On October 15, 2025, WazirX filed a court-approved Scheme of Arrangement with the Accounting and Corporate Regulatory Authority (ACRA). This filing is a crucial step in rebuilding the platform and user confidence.
With the court procedures concluded and the ACRA filing complete, WazirX is now in the implementation phase. Users will soon receive distributions and Recovery Tokens as detailed in the plan.
Operations are set to resume within 10 business days from the effective date, October 15, 2025, marking a new beginning for WazirX and its users. Founder Nischal Shetty confirmed that efforts are underway to restart before October 30. The official restart date will be announced soon.
The Singapore High Court has approved WazirX’s debt restructuring plan, backed by 95.7% of creditors. This plan offers a quicker and fairer alternative to liquidation.
WazirX will collaborate with BitGo, a U.S.-based custodian, to secure user assets before relaunching. This partnership aims to enhance security and meet regulatory standards.
Additionally, WazirX plans to launch a decentralized exchange (DEX), issue tradable Recovery Tokens, and conduct periodic buybacks using profits and new revenue streams.
Restoring user trust hinges on WazirX’s transparent and efficient operations in the coming weeks. Success could restore confidence in Indian crypto exchanges, proving that platforms can recover responsibly from major challenges.
