After an extended pause, the Indian cryptocurrency exchange WazirX is gearing up to relaunch its services on October 24th.
The platform had temporarily suspended operations following a significant security breach in July 2024, which resulted in losses of $234 million due to a hack.
To welcome back users, WazirX is waiving trading fees for at least the first month. CEO Nischal Shetty made the announcement on October 23rd and hinted that the zero-fee period could be extended depending on how users respond.
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He highlighted the company’s commitment to supporting its user base throughout this recovery period.
The relaunch of the trading platform will occur gradually over a four-day period, as detailed in a company blog post. Users will be able to start placing orders at 10:00 AM IST each day, with order matching commencing at 5:00 PM IST. Initially, trading will be limited to pairs involving USDT.
Trading involving the Indian rupee will commence with a single USDT
/INR pair
WazirX stated that this phased implementation strategy is designed to carefully evaluate its systems and ensure a seamless resumption of trading activity.
During the period of inactivity, some shifts occurred within token projects. As a consequence, WazirX reassessed its token listings, removing certain assets while updating others through token swaps or mergers.
WazirX recently secured the green light from Singapore’s High Court to proceed with its recovery plans. Want more info from Shetty? Get the complete picture here.