WazirX, a cryptocurrency exchange based in India, is preparing to resume its services on October 24 after being offline for over a year.
The platform had paused operations due to a major security incident in July 2024, where $234 million was lost in a hack.
WazirX is offering zero trading fees for at least the first 30 days. CEO Nischal Shetty announced the restart on October 23 and mentioned that the no-fee period might be extended depending on user response.
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He emphasized the company’s aim to support its users during this recovery phase.
The platform’s return will be carried out in stages over four days, according to a blog post. Users can begin placing orders each day at 10:00 AM IST, with order matching starting at 5:00 PM IST. Initially, only trading pairs involving USDT will be available.
Trading in Indian rupees will begin with a single USDT
$1.00
/INR pair, with more options expected to be added later.
WazirX explained that this phased approach is meant to test the platform’s systems and ensure trading resumes smoothly.
During the shutdown, changes occurred in several token projects. As a result, WazirX reviewed its token listings. Some assets were removed, while others were updated through swaps or merges.
WazirX recently received approval from Singapore’s High Court to proceed with its recovery efforts. What did Shetty say? Read the full story.
