Archive · 1 Dec 2025
WazirX Resumes Operations After Major Hack
WazirX, an Indian crypto exchange, has restarted after a big hack that happened 15 months ago.
The hack caused a loss of over $230 million.
The platform has come back after restructuring in Singapore.
The founder, Nischal Shetty, says they took a careful approach to restart.
They divided users into groups based on what they wanted to do.
Most users chose to continue using the platform.
WazirX has partnered with BitGo, a big custody provider, to keep things secure.
They also have insurance to protect against future hacks.
The exchange is working to win back active traders and is dealing with legal issues and disputes.
WazirX resumed operations after a 15-month hiatus following a $230 million hack.
The platform underwent restructuring in Singapore and launched in four phases.
Users were categorized into three groups based on their preferences for continuing or exiting the platform.
WazirX partnered with BitGo for security and has $250 million in insurance coverage.
The exchange aims to normalize operations and win back active traders within 3-6 months.
- Who
- WazirX, an Indian crypto exchange, and its founder and CEO Nischal Shetty
- What
- The platform resumed operations after a major hack and restructuring
- When
- The platform resumed operations last month after 15 months of inactivity
- Where
- The restructuring was completed in Singapore
- Why
- To recover from a breach that wiped out over $230 million and to restart operations
- Platform
- WazirX
- Restructuring Location
- Singapore
- Custody Provider
- BitGo
- User Base
- 4 million
- Recovery Timeframe
- 3-6 months
- Dispute
- Ongoing with Binance