Archive · 30 Jul 2026
Nischal Shetty Leads WazirX Recovery After Cyberattack
Nischal Shetty started a crypto trading site called WazirX.
In July 2024, hackers stole about $230 million from the site, and it stopped working.
Shetty decided to fix the problem instead of giving up.
He worked with lawyers, police, and experts to rebuild the system.
After 15 months, the site reopened, giving back most of the money to users and adding new safety features.
He also made new products to help people trade safely and use artificial intelligence to make better choices.
The whole effort shows that fixing a big mistake takes hard work and trust.
Cyberattack on July 18, 2024 stole $230 million from WazirX.
Operations halted for 15 months while the company rebuilt its security and custody systems.
Recovery plan approved by 95% of voting creditors, returning 85% of rebalanced assets to users.
Recovery Tokens were issued to give users future participation in platform revenue.
Post‑relaunch strategy focuses on trust, institutional security, AI tools, and new product offerings.
- Who
- Nischal Shetty, founder of WazirX
- What
- Rebuilding WazirX after a cyberattack that compromised $230 million in digital assets
- When
- Attack on July 18, 2024; 15‑month hiatus; operations resumed in early 2025
- Where
- India
- Why
- To restore user trust, recover assets, and demonstrate resilience
- Founder
- Nischal Shetty
- Company
- WazirX
- Cyberattack Date
- July 18, 2024
- Assets Compromised
- $230 million
- Recovery Approval
- 95% of voting creditors
- Assets Returned
- 85% of rebalanced net liquid assets