After 16-month shutdown, Singapore Court-backed restructuring, WazirX to restart ops on Oct 24 with 0% fees

Sixteen months after it shut down trading and withdrawal operations, embattled crypto exchange WazirX is resuming its operations on October 24, 2025, after the completion of its restructuring process as directed by the High Court of Singapore and backed by its creditors. This marks a fresh chapter in the platform’s journey to rebuild trust, transparency, and innovation.

WazirX, in a statement today, said that as part of the restart offer to woo crypto investors, all users will enjoy 0% trading fees across all trading pairs. “The relaunch will begin with certain crypto-to-crypto pairs and the USDT/INR pair, followed by the gradual expansion of additional markets in the coming days,” said the company.

In order to fix the security loopholes, which drained a whopping $235 million from the exchange in 2024, the company says this time it has partnered with BitGo, a digital asset custody major, which will provide institutional-grade, insured custody solutions.

“I want to thank the WazirX community for their patience through these difficult times. Asset security is currently a crucial aspect in the global crypto ecosystem. Our partnership with BitGo adds layer of trust and protection with world-class custody standards, as we restart. This isn't just a return to operations, it’s a reinforcement of our integrity, which we’ve always strived for,” said Nischal Shetty, Founder of WazirX.

The development follows after WazirX last week completed token swaps, merger, delisting, migration of tokens and any rebranding that the tokens may have undergone. The company says it has initiated token distributions to creditors within 10 business days, as estimated, and is working towards the issuance of Recovery Tokens to creditors.

On October 13, 2025, the High Court of Singapore approved a restructuring scheme proposed by crypto platform WazirX's parent entity Zettai Pte Ltd after the plan was supported by 95.7% creditors by number and 96.6% by value.

The development followed three months after the Singapore High Court had rejected WazirX's proposed restructuring plan under Zettai, calling it "insufficiently transparent". Zettai-owned WazirX, which disbanded operations on July 18, 2024, had said it remains committed to complying with all legal and regulatory processes. Amid this, reports suggested that the Singapore-based crypto exchange, which primarily serves customers in India, was also trying to move its operations to Panama.

Once India’s largest crypto exchange in terms of users and volume, WazirX suffered a massive cyberattack in July 2024, resulting in the theft of around $230 million in digital assets. Hackers exploited vulnerabilities in the multi-sig wallet, leading to the suspension of its operations and the halting of trading and withdrawals in the same month. 

WazirX has attributed responsibility for the $230 million hack to the North Korean Lazarus Group, which is infamous for high-profile cyberattacks on cryptocurrency exchanges. The United States, Japan, and South Korea, in a joint statement, also identified the Lazarus Group as responsible for the cyberattack on the exchange.

The crypto exchange had earlier stated that if its restructuring plan is not approved, creditors will have to wait for the ownership dispute to be resolved before any next steps can be taken, which makes the situation unclear and could lead to extended timelines, estimated by the year 2030.