WazirX to restart operations

[Oshosondy]

We talked about the exchange hack, so I think we should also talked about the Indian exchange restarting operation on Friday which is today in my local time.

Trading fee will be 0% for people using the exchange for now.

The exchange has partnered with Bitgo

https://www.google.com/amp/s/www.thehindu.com/incoming/wazirx-to-restart-operations-on-friday-more-than-a-year-after-being-hit-by-2000-crore-hack/article70193501.ece/amp/.

[Wiwo]

Is good to see a project getting back on after suffering such attacks like hack of this nature, the challenge is if their customers will make a return back and how much trust they will have on them to be able to stay anove such attacks in the future.

Most of the top cryptocurrency exchanges and even online casinos that were hacked in the past never shutdown operations so it was easy to manage their customers fears, but for wazirx is was a different ball game a full shoutdown since july 2025.

Wishing them all the best since their are Indian most popular only exchange there is urgent need to get them back in operations to serve Indian cryptocurrency users.

[God Of Thunder]

Is good to see a project getting back on after suffering such attacks like hack of this nature, the challenge is if their customers will make a return back and how much trust they will have on them to be able to stay anove such attacks in the future.

Most of the top cryptocurrency exchanges and even online casinos that were hacked in the past never shutdown operations so it was easy to manage their customers fears, but for wazirx is was a different ball game a full shoutdown since july 2025.

I wasn't aware of their hack. I think it will depend on how they handled the users after the hack. I am unaware whether the users were able to withdraw any of their funds. I'm unsure if WazirX actually sends the funds to its customers. If they did, the users would come back and use their exchange again. However, if users suffer a loss due to this hack, there is a high possibility that they will abandon the platform from now on, regardless of how significant their initiative is.

We are all aware of the Bybit hack. Bybit handled the situation too well, and I believe most users are still using their platform. The funds weren't hacked from Bybit, but from its wallet, which their employees managed. As I said, I wasn't aware of WazirX hack.

[julerz12]

I wasn't aware of their hack. I think it will depend on how they handled the users after the hack. I am unaware whether the users were able to withdraw any of their funds. I'm unsure if WazirX actually sends the funds to its customers. If they did, the users would come back and use their exchange again. However, if users suffer a loss due to this hack, there is a high possibility that they will abandon the platform from now on, regardless of how significant their initiative is.

We are all aware of the Bybit hack. Bybit handled the situation too well, and I believe most users are still using their platform. The funds weren't hacked from Bybit, but from its wallet, which their employees managed. As I said, I wasn't aware of WazirX hack.

$230 Million worth of various crypto assests was stolen from them and it was done by Lazarus Group (North Korean Hackers).
From what the Singaporean court's decision, their users can only recover up to 55% of the stolen funds. Not sure if I'd happy hearing that if I was one of the victim, but, I guess that's better than nothing. What's also vague is when those stolen funds would be returned, WazirX have not set any specific date.

It's great that they're resilient and still tries to get back up after what happened but before anything else, the reimbursement of all the affected users should be the priority.
https://finance.yahoo.com/news/wazirx-restructuring-gets-singapore-court-120525439.html

[rat03gopoh]

From what the Singaporean court's decision, their users can only recover up to 55% of the stolen funds.

A 55% refund might be the only thing holding them back from restoring their former trust and reputation. Except this isn't just any 55% figure; I mean, WazirX can offer long-term loss recovery to affected users through an exclusive program. Furthermore, they should be more transparent about their security audits and user protection funds.

[sunsilk]

From what the Singaporean court's decision, their users can only recover up to 55% of the stolen funds. Not sure if I'd happy hearing that if I was one of the victim, but, I guess that's better than nothing.

Yes, that's better than nothing although in the perspective of the victims is that it's not enough with the ruckus that it has caused them.

It's hard for these hacked exchanges to get back the trust of their users unless they've proven that they have solid assets to cover the losses that they have.

We've seen bybit, binance and the others that have done refund as well and they're back in normal operations.

[coupable]

From what the Singaporean court's decision, their users can only recover up to 55% of the stolen funds. Not sure if I'd happy hearing that if I was one of the victim, but, I guess that's better than nothing.

Yes, that's better than nothing although in the perspective of the victims is that it's not enough with the ruckus that it has caused them.

Yes, 55% is better than nothing but 45% is also a big loss. If the recovery wouldn't be done in full, restoring operations isn't enough to get back their user base because they already lost credibility, unles they are willing to complete full recover in the future following an exact schedule. If they can come back to the market, they should be able to pay the 45% remaining.

[sunsilk]

From what the Singaporean court's decision, their users can only recover up to 55% of the stolen funds. Not sure if I'd happy hearing that if I was one of the victim, but, I guess that's better than nothing.

Yes, that's better than nothing although in the perspective of the victims is that it's not enough with the ruckus that it has caused them.

Yes, 55% is better than nothing but 45% is also a big loss. If the recovery wouldn't be done in full, restoring operations isn't enough to get back their user base because they already lost credibility, unles they are willing to complete full recover in the future following an exact schedule. If they can come back to the market, they should be able to pay the 45% remaining.

It should be more than that and as much as they have to do it 100%. But if that's all that they can refund, there is no other option for the affected users.

What they can do after is to stop using them.

While the users deserve to take back that 45%. However, I think that 45% is a burden to them and once they have recovered, I don't think that they're going to put that into their contracts and retrieval clauses.

[coupable]

From what the Singaporean court's decision, their users can only recover up to 55% of the stolen funds. Not sure if I'd happy hearing that if I was one of the victim, but, I guess that's better than nothing.

Yes, that's better than nothing although in the perspective of the victims is that it's not enough with the ruckus that it has caused them.

Yes, 55% is better than nothing but 45% is also a big loss. If the recovery wouldn't be done in full, restoring operations isn't enough to get back their user base because they already lost credibility, unles they are willing to complete full recover in the future following an exact schedule. If they can come back to the market, they should be able to pay the 45% remaining.

It should be more than that and as much as they have to do it 100%. But if that's all that they can refund, there is no other option for the affected users.

What they can do after is to stop using them.

While the users deserve to take back that 45%. However, I think that 45% is a burden to them and once they have recovered, I don't think that they're going to put that into their contracts and retrieval clauses.

If they can restore their operation, and at the same time not able to refund the 45% rest of funds, this means they don't want to refund their users. They are re-building the brand at the rest of destroyed reputation if they can operate without refunding old users. I may agree that old users have nothing to do to get their funds refunded in full if the service shut down after the incident. But this won't won't be their attitude when seeing the service active again without any notice about the lost money. A reputable service should take care of users funds. Who would trust them again if they can just forget about their users after an incident may occur even if it wasn't the responsability of the site at first place.

[TryNinja]

Is good to see a project getting back on after suffering such attacks like hack of this nature, the challenge is if their customers will make a return back and how much trust they will have on them to be able to stay anove such attacks in the future.

Most of the top cryptocurrency exchanges and even online casinos that were hacked in the past never shutdown operations so it was easy to manage their customers fears, but for wazirx is was a different ball game a full shoutdown since july 2025.

Wishing them all the best since their are Indian most popular only exchange there is urgent need to get them back in operations to serve Indian cryptocurrency users.

I don't understand why anyone would use WazieX after they gave their users a huge haircut on the amount they will get back. Definitely don't see their comeback as a nice thing, unless they promise to somehow pay back the remaining debt after they get even a bit of profit.

Just look around x.com for "waziex"... many old customers aren't happy about them: https://x.com/search?q=wazirx&src=typed_query

e.g https://x.com/siddocode/status/1981929720439554073

[julerz12]

I don't understand why anyone would use WazieX after they gave their users a huge haircut on the amount they will get back. Definitely don't see their comeback as a nice thing, unless they promise to somehow pay back the remaining debt after they get even a bit of profit.

Just look around x.com for "waziex"... many old customers aren't happy about them: https://x.com/search?q=wazirx&src=typed_query

e.g https://x.com/siddocode/status/1981929720439554073

Yikes. That's not the type of feedback you would want to get from your users. Some of them are complaining about the rebalancing, saying their funds do not match prior to and after the hack ^{[1] [2]}.
There are also users saying their funds are still locked ^[2] due to various reasons such as having open orders, pending withdrawals, "legal reasons", or a 34% lock?
Meanwhile, the CEO seems to be out of touch as to what their users are complaining; he's even thanking everyone for trending the #WazirX on X (Twitter) ^[4], well, I guess for him, there is no such thing as bad publicity. 

[God Of Thunder]

$230 Million worth of various crypto assests was stolen from them and it was done by Lazarus Group (North Korean Hackers).
From what the Singaporean court's decision, their users can only recover up to 55% of the stolen funds. Not sure if I'd happy hearing that if I was one of the victim, but, I guess that's better than nothing. What's also vague is when those stolen funds would be returned, WazirX have not set any specific date.

It seems like another Mt. Gox. I'm unsure if their users will be able to recover their funds or how difficult it will be for them to retrieve any of their money. 55% is a terrible percentage! Imagine I had $ 10,000 in my wallet, and now I am going to get back only $ 5,500, and nobody knows when the refund will be processed. If people have a thousand dollars' worth of crypto, they should spend $50 to get a hardware wallet to keep their funds safe, rather than using these unknown exchanges.

Since it is an Indian exchange, I assume most of its users are Indian, and it focuses on fiat transactions within India. I don't see any reason why users from other nationalities would use this exchange when there are dozens of better options.

[sunsilk]

It should be more than that and as much as they have to do it 100%. But if that's all that they can refund, there is no other option for the affected users.

What they can do after is to stop using them.

While the users deserve to take back that 45%. However, I think that 45% is a burden to them and once they have recovered, I don't think that they're going to put that into their contracts and retrieval clauses.

If they can restore their operation, and at the same time not able to refund the 45% rest of funds, this means they don't want to refund their users. They are re-building the brand at the rest of destroyed reputation if they can operate without refunding old users. I may agree that old users have nothing to do to get their funds refunded in full if the service shut down after the incident. But this won't won't be their attitude when seeing the service active again without any notice about the lost money. A reputable service should take care of users funds. Who would trust them again if they can just forget about their users after an incident may occur even if it wasn't the responsability of the site at first place.

I agree with all that you've said but if there's no other way for them to do it, I guess that it's the bare minimum that the affected users have to accept.

Because whether they like it or not, that's what they're going to receive and even when wazirx gets back to its full service, they're no longer be part of their choice.

As long as they get a portion of the affected funds that they have, they'll just have to stop using them.

[Bitcoin Smith]

~
I don't understand why anyone would use WazieX after they gave their users a huge haircut on the amount they will get back. Definitely don't see their comeback as a nice thing, unless they promise to somehow pay back the remaining debt after they get even a bit of profit.

Just look around x.com for "waziex"... many old customers aren't happy about them: https://x.com/search?q=wazirx&src=typed_query

e.g https://x.com/siddocode/status/1981929720439554073

Every user were unhappy but they were forced to support the petition of Wazirx which they recently won and now returning back their operation. I don't know where this 55% number came but they allowed 66% of fiat balance to withdraw and locked the remaining funds. Now I checked their app they mentioned users can withdraw all the crypto balance in 3 or 4 phases like 35% or 33%, not sure how it will be because I don't have any crypto left with them when this incident happened.