what's wazirx?
WazirX is India's largest cryptocurrency exchange, established in 2018, offering a secure platform for buying, selling, and trading over 100 digital assets including Bitcoin, Ethereum, and its native WRX token. It supports INR fiat on-ramps, advanced trading features like spot and futures markets, and emphasizes user education and compliance with Indian regulations. The exchange's native WRX token provides utility such as reduced trading fees and staking rewards. Following a $230 million hack in July 2024, WazirX initiated restructuring proceedings in Singapore to recover funds, restart operations, and distribute recoveries to affected users.
WazirX launched early testing for its Futures platform.
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Launched early testing phase for WazirX Futures platform.
Platform introduces WazirX Zero initiative with no trading fees for unlimited trades, with revenues aimed at compensating customers affected by previous breach.
Tomorrow's announcement will focus on rebuilding WazirX with a long-term positive impact on customers and the Indian crypto ecosystem.
India's Madras High Court ruled crypto is "property" and ordered the exchange to post an $11.8K guarantee over a user's XRP lost in the 2024 $235M hack.
Indian court bars the exchange from using customer XRP holdings to offset losses from the hack.
Phase 4 launches with 70 new trading pairs in USDT market and 19 new trading pairs in INR market; all tokens now available in crypto-to-crypto market with trading beginning at 5PM today.
USDT/INR launches as the first trading pair to build initial liquidity, with crypto-to-crypto pairs going live today and other INR pairs rolling out in the coming days.
Trading resumes on October 24th with zero-fee trading for at least 30 days.
Funds page with rebalanced tokens, INR deposits, and crypto deposits are now operational; withdrawals and trading coming soon with BitGo as custody partner.
Recovery tokens will be distributed within 10 business days.
ACRA filing in Singapore completed on October 15th, marking the restructuring scheme's effective date. Platform restart required before October 30th, with exact restart date announcement coming next week.
Singapore High Court approves the restructuring scheme.
New court order requires disclosure of agreement with Binance.
Restructuring scheme revote begins after tomorrow's webinar; fund distribution promised within 10 days of approval.
Restructuring plan shifts withdrawal processing to Zanmai India; revote pending with documentation due Tuesday.
CoinDCX counters allegations regarding overseas fund transfers, affirms all funds remain with Indian-compliant entity.
Crucial extension secured to revive post-hack restructuring plan after earlier court rejection.
Singapore court rejects restructuring plan following $230M exploit; exchange considering appeal options.
Singapore High Court rejects creditor repayment scheme, delaying platform recovery plans.
Recovery plan court hearing set for May 13, platform restart and user payouts expected within 10 days pending approval.
$230M hack recovery plan awaits May 13 Singapore court approval; operations to resume within 10 days if approved.
Exchange plans to resume operations and begin creditor payments following May 13 Singapore court hearing, after suffering $234.9M hack.
Platform targets mid-May return to operations amid ongoing legal discussions.
Court hearing scheduled for May 13th to sanction fund distribution scheme.
Creditors approve recovery plan with 93% support for $230M hack resolution.
Platform restructuring after attack, planning to distribute all available liquid tokens by April/May 2024. Will provide Recovery Tokens and DEX token allocation to holders.
Completed asset rebalancing on Tuesday. Hack victims to receive 85% of their portfolio value as recorded on July 18.
Binance announced delisting of WRX trading pairs effective December 25, 2024 03:00 UTC, shortly after WazirX filed for full recovery of hacked assets.
Plans to restart trading by February 2025 after $235M hack. Introducing recovery token for 48% fund reclamation. Developing DEX with governance token.