Good news for Wazirx users

[Bitcoin Smith]

So, the Singapore court approved their proposal after they got enough support from the affected parties which is about 1 lakh and 50 thousand users hopefully they might receive what they are left when the hack happened.

It might take effect in the next 10 days and all the refunds will be made within the 3 month period as per the report from cointelegrapgh, please read it here if you want: Singapore court approves WazirX restructuring plan after $234M hack.

And after all these, do you think Wazirx will aim to make a comeback?

[TheUltraElite]

Exchanges in India need some big comeback event to actually come back.

Crypto for trading is happening here but with multiple exchanges being hacked in the recent few years, trust in exchanges are at an all time low. This needs to change first and that can happen with some big news from the government or some big news from other governments that are lenient towards bitcoin, specially the Western ones.

[Bitcoin Smith]

Exchanges in India need some big comeback event to actually come back.

Crypto for trading is happening here but with multiple exchanges being hacked in the recent few years, trust in exchanges are at an all time low. This needs to change first and that can happen with some big news from the government or some big news from other governments that are lenient towards bitcoin, specially the Western ones.

As I said few times they can make a comeback if they offer BTC/INR trading pair for buying and selling because every genuine buyer and seller in India is afraid of bank freeze that is only happening due to p2p trading and Binance or other FIU regulated exchanges didn't focus on INR part but as Indian exchange they may have better understanding about this and I don't think they have any issues adding that either since crypto trading is not banned in India either the banks can't block crypto related transactions as per the Supreme court order.

[henmark]

It might take effect in the next 10 days and all the refunds will be made within the 3 month period as per the report from cointelegrapgh, please read it here if you want: Singapore court approves WazirX restructuring plan after $234M hack.

And after all these, do you think Wazirx will aim to make a comeback?

Beginning of refund must be a sign of "comeback" but I remember that there is the case in Delhi count which has not yet reached to a verdict. Delhi court asked about unveiling the agreement with Binance on handling user's wallets and their funds. So, I guess that we can see the comeback of fully operational Wazirx after the end of this trail.

Meanwhile, getting refund in a newly created token in up to 70-80% value of assets held at the time of hacking, may end up in mess. Because, obviously everyone will dump their allocated tokens, so not sure what would happen in the end. In a best case, I guess that the newly created token is just a utility to distribute and Wazirx will buy back at a constant price so that no user will lose the value of their allocated tokens further.

[pawanjain]

So, the Singapore court approved their proposal after they got enough support from the affected parties which is about 1 lakh and 50 thousand users hopefully they might receive what they are left when the hack happened.

It might take effect in the next 10 days and all the refunds will be made within the 3 month period as per the report from cointelegrapgh, please read it here if you want: Singapore court approves WazirX restructuring plan after $234M hack.

And after all these, do you think Wazirx will aim to make a comeback?

Wow, that's great news. Finally the wazirx people will be able to get their money back.
Time to tell my friend to stay active and claim his funds as soon as they initiate the returns.
I just checked their snapshot list and found that I have around $35 worth coins in it as well.
They are probably the locked wazirx coins which I couldn't sell on the exchange anyway.
It would be funny if I would be able to claim this money through this way.

[TSen]

Today, Wazirx announced about resuming their services from Friday, 24th Oct 2025 onward. You may read here for more information on this: https://wazirx.com/blog/trading-to-resume-on-wazirx-with-zero-trading-fee-from-24th-october

[Bitcoin Smith]

Today, Wazirx announced about resuming their services from Friday, 24th Oct 2025 onward. You may read here for more information on this: https://wazirx.com/blog/trading-to-resume-on-wazirx-with-zero-trading-fee-from-24th-october

I received an email from them or notification from their app (not sure)

But it looks like a good news for the users who got their crypto stuck with their platform.

Reading the article the zere fee might attract the users but it is not going to be an easy job to have the same trust as before but the good part from the mentioned article is

In the INR market, only the USDT/INR pair will be live initially. Other INR trading pairs will be enabled gradually after the platform reaches full functionality, with separate announcements shared accordingly.

This one will attract the users for sure if they enable deposit and withdrawal option of INR. And hope they will not fuck this time.

[Bitcoin Smith]

Just an update: Wazirx enabled INR deposits and withdrawals which is what exactly most people would wanted. But there is a catch if you ever made an INR deposit then your crypto withdrawals will be disabled permanently so if you are someone who wish to withdraw crypto then INR is not for you, I don't know why this weird restriction is in place.

Is it part of the FIU guidelines for crypto exchange to operate.

[JSRAW]

Arey yeh exchange ka drama toh chalta rahega, aaj wazirx ka hai kal kisi aur ka hoga.

Yeh batao nichal bhai ke shardeum project ka kya hua? At one point of time, bahut jyada hype ho rakhi thi aur kuch yaar log full time shill karne mein lage they ishe.

[pawanjain]

Just an update: Wazirx enabled INR deposits and withdrawals which is what exactly most people would wanted. But there is a catch if you ever made an INR deposit then your crypto withdrawals will be disabled permanently so if you are someone who wish to withdraw crypto then INR is not for you, I don't know why this weird restriction is in place.

Is it part of the FIU guidelines for crypto exchange to operate.

The thing is, whether you deposit/withdraw INR from WazirX or not, crypto withdrawals are still restricted from the exchange.
I have around 2000 INR on the exchange and tried withdrawing crypto from the site without depositing anything and it still restricted me from doing it.
Also, we have to do a re-KYC on the exchange if we want to withdraw INR from the exchange.
Crypto trading is active on the exchange but the volume is very low and price fluctuation is high.

[Bitcoin Smith]

~
The thing is, whether you deposit/withdraw INR from WazirX or not, crypto withdrawals are still restricted from the exchange.
I have around 2000 INR on the exchange and tried withdrawing crypto from the site without depositing anything and it still restricted me from doing it.
Also, we have to do a re-KYC on the exchange if we want to withdraw INR from the exchange.
Crypto trading is active on the exchange but the volume is very low and price fluctuation is high.

My total balance on Wazirx is around 100, so I didn't know that crypto withdrawals are restricted but I checked and most cryptos are still disabled even for the deposits and they are just running with minimal trading pairs. Re KYC is kind of understandable that they want to start new so wants to make sure everyone who got an account is the rightful owner.

I remember they were like 200btc volume for INR alone now it's around 3 btc when I checked a couple of days back.

[pawanjain]

~
The thing is, whether you deposit/withdraw INR from WazirX or not, crypto withdrawals are still restricted from the exchange.
I have around 2000 INR on the exchange and tried withdrawing crypto from the site without depositing anything and it still restricted me from doing it.
Also, we have to do a re-KYC on the exchange if we want to withdraw INR from the exchange.
Crypto trading is active on the exchange but the volume is very low and price fluctuation is high.

My total balance on Wazirx is around 100, so I didn't know that crypto withdrawals are restricted but I checked and most cryptos are still disabled even for the deposits and they are just running with minimal trading pairs. Re KYC is kind of understandable that they want to start new so wants to make sure everyone who got an account is the rightful owner.

I remember they were like 200btc volume for INR alone now it's around 3 btc when I checked a couple of days back.

For me it was showing that crypto withdrawals are disabled and so I exchanged it for INR and then did a withdrawal to my bank account using IMPS.
The reKYC was smooth and got approved within 10 minutes and the withdrawal was processed immediately.
So within 10 minutes I was able to get the money into my bank account. Kudos to WazirX for that.

For my friend though, it was showing that crypto withdrawals are enabled but he can only withdraw the coins to his own wallet.
So he tried to withdraw his crypto to his Binance account but on the last step it asked him for reKYC and since he has a mismatch in Aadhar and PAN he couldn't proceed with the transaction.

[LucyFurr]

It's good they are trying to back but as a user we no need to prove our loyalty here, especially after how they left us with no answer after the hack. Just withdraw your balance and try to ignore them as possible and also just avoid using any Indian exchanges those all are in similar kind of state.

[pawanjain]

It's good they are trying to back but as a user we no need to prove our loyalty here, especially after how they left us with no answer after the hack. Just withdraw your balance and try to ignore them as possible and also just avoid using any Indian exchanges those all are in similar kind of state.

Yeah obviously but just that we will still have to do their reKYC to be able to withdraw our funds from the exchange.
There's no point in still having the funds on their site after this since they can be hacked again at any point of time.
So better to do what needs to be done to get the funds out and say bye-bye to WazirX.

[pawanjain]

~
The thing is, whether you deposit/withdraw INR from WazirX or not, crypto withdrawals are still restricted from the exchange.
I have around 2000 INR on the exchange and tried withdrawing crypto from the site without depositing anything and it still restricted me from doing it.
Also, we have to do a re-KYC on the exchange if we want to withdraw INR from the exchange.
Crypto trading is active on the exchange but the volume is very low and price fluctuation is high.

My total balance on Wazirx is around 100, so I didn't know that crypto withdrawals are restricted but I checked and most cryptos are still disabled even for the deposits and they are just running with minimal trading pairs. Re KYC is kind of understandable that they want to start new so wants to make sure everyone who got an account is the rightful owner.

I remember they were like 200btc volume for INR alone now it's around 3 btc when I checked a couple of days back.

Now I can confirm that crypto withdrawals are enabled on WazirX because my friend was able to transfer his funds to his binance account.
It seems that we can only transfer funds to our own accounts on other sites but good that WazirX provided this option to the users.

[TSen]

They have also started INR deposits and withdrawals so I think they already are back now. I also did realize that I got a random amount of USDT credited in my account. I'm not even sure if I had any USDT before the hack incident. Did anyone else see any USDT in your wazirx wallet?

Wazirx was one of my favourite platform for P2P as it was instant and had good spreads but after the hack, I moved to Kucoin which has played well for me. I think I might think about coming back to Wazirx now if they are fully functional.

I also think that they will not be much safer when it comes to security and compliance.