WazirX Restores INR and Crypto Deposits After $240M Hack Outrage

Indian crypto exchange WazirX has officially reopened INR and crypto deposits, marking a key milestone in its recovery from the $240...

Written by: Arslan Butt • Thursday, October 23, 2025 • 2 min read

• Last updated: Thursday, October 23, 2025

Quick overview

WazirX has reopened INR and crypto deposits following a $240 million hack in May 2023.
Withdrawals and trading will resume on October 24, with zero trading fees for the first 30 days.
The exchange has partnered with BitGo to enhance security and transparency in its operations.
Some users have reported discrepancies in wallet balances, prompting WazirX to promise a detailed audit report.

Indian crypto exchange WazirX has officially reopened INR and crypto deposits, marking a key milestone in its recovery from the $240 million hack in May 2023. Founder Nischal Shetty confirmed on X that the exchange has completed fund rebalancing and wallet restructuring, paving the way for a phased restart of operations.

The company has partnered with BitGo, a leading global custodian managing over $90 billion in assets, to secure its cold wallets and strengthen post-hack transparency. Shetty said that withdrawals and trading will resume on October 24, with zero trading fees for the first 30 days to encourage activity and restore confidence.

Key Updates:

INR and crypto deposits now active
Withdrawals and trading resume October 24
Zero trading fees for first 30 days
BitGo partnership to enhance security

Founder Outlines Transparent Relaunch

Shetty described the relaunch as a “secure and transparent restart,” emphasizing that the team’s goal is to rebuild trust and recover user losses through a structured roadmap. The exchange plans to implement continuous security audits and reporting standards to reassure users of fund safety.

India’s crypto market has been shaken by multiple security incidents, including CoinDCX’s $44 million hack earlier this year. WazirX’s revival could serve as both a test case for exchange recovery and a reminder of the industry’s growing need for compliance-driven resilience.

Users Raise Concerns Over Wallet Balances

However, some users have reported missing funds and balance discrepancies after WazirX’s fund rebalancing update. Several traders on X claimed that their Net Liquidation Portfolio Value (NLPA) appeared lower than before the update.

A trader known as MASTER Crypto alleged that his credited amount was “significantly lower” post-update. In response, the WazirX team has promised to reconcile balances and release a detailed audit report to address user concerns.

As the exchange prepares to restart trading on October 24, transparency and communication may prove just as vital as technical recovery in determining whether WazirX can regain user trust and reclaim its place in India’s crypto market.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.