WazirX Relaunches 16 Months After North Korean Hack
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Indian crypto exchange WazirX is finally making a comeback after being offline for more than a year due to one of the country’s largest crypto hacks.
Co-founder Nischal Shetty announced that trading will reopen on October 24, with all tokens becoming available by October 27. In a post on X, Shetty thanked users for standing by the exchange during its long road to recovery, calling the restart “an impossible task made possible by community support.”
Earlier this week, WazirX reactivated deposits in both Indian rupees and cryptocurrencies, marking the first major step toward a full relaunch.
The exchange shut down in July 2024 after losing $230 million in a breach attributed to North Korea’s Lazarus Group, which exploited a flaw in WazirX’s multisignature wallet system.
Its return was made possible after the Singapore High Court signed off on a restructuring plan backed by nearly 96% of creditors, clearing the final hurdle for operations to resume.
After 16 turbulent months, WazirX now faces the challenge of rebuilding trust and reclaiming its position in India’s crypto market.
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