- WazirX resumes trading after a 16-month shutdown.
- Rebuilding user trust with enhanced security.
- Partnership with BitGo ensures asset security.
WazirX, India’s once-largest cryptocurrency exchange, will resume trading on October 24, 2025, following a 16-month closure after a $230 million hack linked to the North Korean Lazarus Group.
The relaunch marks a critical recovery effort, underpinned by enhanced security measures with BitGo, potentially restoring trust in the platform and impacting India’s crypto market dynamics.
WazirX, once India’s largest crypto exchange, is set to restart trading operations on October 24, 2025. The exchange had been offline for 16 months following a hack attributed to the North Korean Lazarus Group. Nischal Shetty, founder of WazirX, emphasized the revamped partnership with BitGo. The partnership aims to enhance security with institutional-grade custody solutions, aiming to reestablish user trust.
Market reactions to the relaunch are mixed. Investors express cautious optimism as they await the insured custody measures to stabilize the market. WazirX’s return might influence other exchanges facing similar security challenges. Financial analysts highlight the potential market shake-up, expecting trading volumes to gradually rise. The company’s asset protection strategy could set precedents in securing digital assets on exchanges.
Nischal Shetty, Founder, WazirX, “I want to thank the WazirX community for their patience through these difficult times. Asset security is currently a crucial aspect in the global crypto ecosystem. Our partnership with BitGo adds a layer of trust and protection with world-class custody standards, as we restart. This isn’t just a return to operations, it’s a reinforcement of our integrity, which we’ve always strived for.”
The Indian crypto ecosystem watches closely.
Regulatory frameworks could evolve based on the success of WazirX’s new systems, leading to broader industry changes. This milestone may redefine trust measures within the global crypto market over time. Insight suggests cautious optimism within the crypto community, with a focus on potential financial recovery and regulatory shifts. Historical data on exchange hacks raises expectations on systemic improvements in digital asset security.
