Key Highlights:
- WazirX has enabled INR and crypto deposits.
- The platform is working on resuming trading and withdrawals.
- The platform has partnered with BitGo for security purposes.
WazirX, an Indian cryptocurrency exchange that was hacked in 2024, has officially entered its relaunch phase as reported yesterday, October 22, 2025, through social media platform X (formerly known as Twitter). The platform’s CEO Nischal Shetty, posted on X today, October 23, 2025 and confirmed that the Funds page is now live, and both INR and crypto deposits are open. With this post, he also provided a brief on what the platform is currently working on.
Platform Reactivation and Next Steps
Through this post, Nischal confirmed that the deposits on the platform are open. The deposits can be made through INR or crypto. Also the platform is also updating the user dashboard so that they can see their rebalanced portfolios. This rebalanced portfolio indicates how much of each coin or token the user currently holds after the system update.
Through his tweet, Nischal also talked about the next steps that the platform is currently working on. According to the post, the exchange is working on bringing back trading and withdrawals. According to the post, announcements can be expected “very soon.” Once the implementation phase is completed, users will be able to access their Recovery Tokens and begin reclaiming assets under the approved scheme.
If the execution process proceeds as planned, WazirX can resume trading and withdrawal services by the end of this month. If this materializes, it will be a great relief to the Indian crypto traders who have waited over a year for the revival of the platform.
Partnership with BitGo for Security
WazirX is also partnering with BitGo Trust Company, a well-known global custodian that manages more than $90 billion in assets. This partnership plan was announced back in March 2025, and will provide cold wallet storage, multi-signature security and insurance coverage of up to $250 million for user funds.
BitGo’s custody system will power WazirX’s new asset management setup, and will strengthen fund security after what happened last year. According to Shetty, this partnership is a big step in rebuilding trust of the users and it will also make sure that there is a clear and transparent handling of the user funds.
Approval and Restructuring Plan
The recovery plan proposed by WazirX’s parent company Zettai Pte Ltd, was approved on October 13, 2025 by the Singapore High Court. This decision ended months of creditor talks and legal procedures. More than 95% of creditors by number and 94.6% by value supported the plan, and the plan was filed with the ARCA on October 15.
With this plan, WazirX will start distributing the Recovery Tokens and restoring user accounts that were affected by the hack. Victims can expect a recovery of 75-80% of their total assets. However, the asset value will be split between crypto holdings and the new recovery tokens.
Market Reactions
There are mixed reactions to this announcement. Some of the users are unhappy with WazirX’s rebalancing as the new distributions look smaller than the January 2025 estimates. The rebalancing process, which was completed in February 2025, aimed to cover 85% of the creditor balance from July 2024. However, the actual values now appear lower.
On the other hand, some of the users are happy that there is some clarity as to what is happening and that users will be able to get at least a portion of money that they had invested.
Moreover, one of the X users has also noted down reasons to support WazirX. According to the post, with the new Recovery Tokens, users can get back more if the exchange earns more. The partnership with BitGo will make sure that all the funds are insured and secure. Even after the hack, WazirX still remains India’s biggest crypto exchange and has great support. The recovery has been quick as the platform is already moving toward payouts. In short, WazirX is building fast, safely and with user trust at its core.
Also Read: WazirX’s Proposed Scheme of Arrangement Hearing Set for Oct 13
