WazirX, India’s crypto exchange, is gearing up for a major comeback, a year after a major hack that shook the platform. The exchange is entering a pivotal phase aimed at restoring user confidence and setting the stage for a fresh start.
WazirX announced that the court-sanctioned Scheme of Arrangement was officially filed with the Accounting and Corporate Regulatory Authority (ACRA) on 15 October 2025. This milestone marks a key step forward in the platform’s journey toward strengthening its operations and user trust.
WazirX Enters Implementation Phase
With the conclusion of court proceedings and the filing of the order with ACRA, WazirX is entering the implementation phase. Under this phase, users will begin receiving distributions along with Recovery Tokens as outlined in the Scheme.
Looking ahead, the platform is set to resume operations within 10 business days from the Scheme’s effective date of 15 October 2025, signaling a new chapter for WazirX and its user community.
Founder Nischal Shetty shared that as part of the scheme, WazirX is expected to restart operations before 30 October. He added that the team is working at full speed to make this happen and aims to resume even sooner if possible.
The exact restart date will be announced next week, once all the preparations are complete.
This comes after the Singapore High Court approved its updated debt restructuring plan. Around 95.7% of creditors voted in favor of the revised plan, which provides a faster, fairer, and legally binding alternative to liquidation.
WazirX will partner with U.S.-based custodian BitGo to enhance the security of user assets ahead of its platform relaunch. This partnership is designed to boost user confidence while meeting updated regulatory and security standards.
The exchange will also launch a decentralized exchange (DEX), issue tradable Recovery Tokens, and implement periodic buybacks of these tokens using platform profits and new revenue streams.
Rebuilding User Trust
While most users are expected to recover their funds, restoring trust will depend on how transparently and efficiently the exchange operates in the coming weeks. If WazirX succeeds, it could help restore confidence in Indian crypto exchanges overall, showing that even after major setbacks, platforms can recover responsibly.
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