WazirX review: status after the 2024 hack, restructuring, and availability
WazirX is an Indian cryptocurrency exchange that lost roughly 230 million United States dollars in a July 2024 hack and was shut for about a year. It resumed trading in October 2025 after a Singapore court approved a restructuring scheme. A portion of user balances remains locked in non tradable recovery tokens, the recovery is ongoing, and it does not serve United States residents.
Information, not advice. This is general information, not legal, tax, or financial advice, and it is not a recommendation to use any platform. Verify the current rules with a qualified local professional and the official regulator before acting.
WazirX was once among India's largest cryptocurrency exchanges. On 18 July 2024 it lost roughly 230 million United States dollars in a hack widely attributed to a North Korea linked group, and it suspended trading for about a year. As of June 2026 it has resumed operations for Indian users after a Singapore High Court approved a restructuring scheme, but a share of user balances remains locked in non tradable recovery tokens and the recovery process is still running. It is registered with India's Financial Intelligence Unit and does not serve United States residents. This is a higher risk, evolving situation, so confirm the current position before acting.
What WazirX is
WazirX launched in 2018 and grew into one of the most used cryptocurrency exchanges in India, offering spot trading focused on the Indian rupee market alongside crypto to crypto pairs. Its operating entity is structured through a Singapore company, which is the vehicle that entered the court supervised restructuring after the hack.
The platform is custodial, which means WazirX holds the assets in your account on your behalf rather than handing you the private keys. The 2024 hack and the year long suspension that followed are central to any current assessment of the platform, so they are covered directly below rather than treated as background.
What happened and where it stands
On 18 July 2024 WazirX lost roughly 230 million United States dollars when one of its wallets was compromised, in an attack widely attributed to a North Korea linked group. Trading and withdrawals were suspended, and the operating entity sought a court supervised restructuring in Singapore to deal with the shortfall and distribute remaining assets fairly among users.
The Singapore High Court sanctioned the restructuring scheme in October 2025, and WazirX resumed trading and withdrawals later that month, restoring functionality in stages. Under the scheme, users have been receiving distributions, but a share of balances was placed into non tradable, non withdrawable recovery tokens issued in early 2026, intended to track future recoveries. The final outcome for users is not certain and depends on how the scheme plays out.
In 2026 WazirX has also reintroduced products such as rupee settled futures. The platform is operating again, but the combination of a large past loss, locked recovery tokens, and an unfinished recovery process means this is an unusually high risk and contested situation compared with an exchange that has not been through an event of this size.
Where WazirX is available
As of June 2026 WazirX is built around the Indian market and serves users in India who can complete its verification and meet local requirements. Rupee withdrawals and staged trading have been restored under the restructuring scheme. It does not serve United States residents, and access from other countries is limited.
Anyone considering the platform should confirm the current state of trading, withdrawals, and the recovery distributions directly with WazirX before relying on access, because the position has been changing in stages.
Registration and regulatory position
- India registration. WazirX is registered as a reporting entity with India's Financial Intelligence Unit and is subject to anti money laundering and reporting obligations. Registration is a compliance status, not an endorsement (as of June 2026).
- Singapore restructuring. The operating entity completed a Singapore High Court sanctioned restructuring scheme, approved in October 2025, which governs how remaining assets and recoveries are distributed to users (as of June 2026).
- Recovery tokens. A share of user balances was placed into non tradable, non withdrawable recovery tokens issued in early 2026 under the scheme. Their ultimate value depends on future recoveries and is not guaranteed (as of June 2026).
- India framework. India regulates crypto mainly through tax and anti money laundering rules rather than a single comprehensive licensing law, and the wider framework is still developing (as of June 2026).
- United States. WazirX does not hold United States registrations and does not serve United States residents (as of June 2026).
Each point is stated as of 15 June 2026. The restructuring and recovery are ongoing and the position changes. Confirm the current status with WazirX and the named regulator before acting.
Custody, fees, strengths, and limitations
WazirX is custodial. It holds your assets on your behalf rather than handing you the private keys, so users who want to control their own keys move funds to a separate self custody wallet. The 2024 hack is a direct reminder that custodial platforms concentrate assets that can become a target, and that holding crypto on any exchange carries platform risk.
On fees, WazirX has historically charged a percentage on spot trades, and it has run promotional pricing at points during the relaunch, including reduced or zero trading fees on certain markets. Pricing and which products are live have been changing through the restart, so confirm the current schedule on the platform before trading.
In plain terms, the strengths are a recognised Indian brand, registration with the Financial Intelligence Unit, and restored trading under a court approved scheme. The limitations are significant: a very large past loss, balances locked in recovery tokens, an unfinished recovery, an evolving Indian framework, no service to the United States, and the custodial model. None of this is a recommendation to use or avoid the platform, only the factual picture you would weigh against your own country and needs.
WazirX is operating again in India under a restructuring, but it carries unusual risk after the 2024 hack. Whatever you decide, compare the exchanges that are genuinely available in your country before you choose.
Every availability status here is dated and checked against the named regulator's public register. We never place a link to a platform where it is not available.
Regulator and sources
The relevant bodies are India's Financial Intelligence Unit, which supervises registered crypto reporting entities for anti money laundering purposes, and the Singapore High Court, which sanctioned the restructuring scheme that governs user recoveries.
- Financial Intelligence Unit India, register of reporting entities for virtual asset service providers.
- Singapore High Court restructuring filings and the WazirX scheme announcements, current as of June 2026.
- Reporting on the July 2024 hack and the staged 2025 and 2026 relaunch, including the recovery token issuance.
Frequently asked questions
Is WazirX safe to use after the hack?
WazirX suffered a major hack in July 2024 and was shut for about a year. It resumed trading in October 2025 after a Singapore court approved a restructuring scheme, but a portion of user balances remains locked in non tradable recovery tokens and the recovery process is ongoing. This is a higher risk and evolving situation, so confirm the current position with WazirX before relying on it (as of June 2026).
What happened to WazirX in 2024?
On 18 July 2024 WazirX lost roughly 230 million United States dollars in a hack widely attributed to a North Korea linked group. Trading and withdrawals were suspended, and the operating entity entered a court supervised restructuring in Singapore (as of June 2026).
Is WazirX registered in India?
Yes. WazirX is registered as a reporting entity with India's Financial Intelligence Unit and is subject to anti money laundering obligations. Registration is not an endorsement, and India's wider crypto framework is still developing (as of June 2026).
Can United States residents use WazirX?
No. WazirX is built around the Indian market and does not serve United States residents (as of June 2026).
Did WazirX users get their money back?
Only in part, and the process is ongoing. Under the court approved scheme, users have been receiving distributions, but a share of balances remains locked in non tradable, non withdrawable recovery tokens issued in early 2026. The final outcome is not certain. This is information, not advice (as of June 2026).
Rules change frequently. WazirX is mid recovery after a major hack, the restructuring distributions are ongoing, and India's crypto framework is still developing. The position on this page is dated 15 June 2026. Confirm the current status with the named regulator and the platform before you act.
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