WazirX Resumes Operations, Aims to Recover Assets After $234.9 Million Hack

WazirX, an India-focused cryptocurrency exchange owned by Singapore-based Zettai Pte Ltd, has reintroduced services after a court-approved restructuring plan. The company, which previously halted operations following a massive hack in July 2024 that drained $234.9 million from user assets, is now prioritizing profitability as creditor repayments depend on it.

Nischal Shetty, WazirX's founder, stated that the exchange has restarted operations and aims to recover assets. Eligible users have received about 85% of their approved claims within 10 business days of reopening, with the remaining amount tied to recovery tokens and potential buybacks over three years.

The exchange has also introduced an AI assistant, futures trading, and a $1 monthly subscription plan that waives per-trade fees on more than 300 tokens. WazirX claims it now holds around 8-10% of India's domestic crypto trading market, although this figure cannot be independently verified.