The WazirX hack of 2024 sparked an important discussion in India’s crypto ecosystem about exchange security and the transparency of user funds. As the recovery process moves into its implementation phase, users are eager for clarity on timelines, whether they will get their money back, and what steps to take if withdrawals fail. Here’s a clear breakdown of key dates, what happened, and how users can protect their funds moving forward.
What Happened? Quick Timeline of the WazirX Hack 2024
Mid-July 2024 – Suspicious Multisig Activity Detected
In July, security experts flagged abnormal access patterns linked to WazirX’s smart contract and multisig infrastructure. Reports also emerged of slowed crypto withdrawals and frozen balances on social channels.
July 18, 2024 – Exploit Confirmed, Withdrawals Disabled
By July 18, hackers had drained funds in a coordinated exploit. The exchange officially paused major withdrawal routes, and thousands of users began seeking recovery steps and legal claim options.
Late 2024 to Mid-2025 – Forensic Audit & Court Process
The platform initiated internal audits while legal restructuring proposals were drafted. During this period, the WazirX recovery helpdesk received a surge of user requests, with many seeking clarity on how to reclaim funds after the hack.
October 2025 Update
Court Approval for Phased Repayment Mechanism
The WazirX crypto exchange recovery plan received initial court approval under supervised restructuring. However, participation in repayment phases requires user verification and supporting documentation. On 15 October 2025, WazirX officially filed the sanctioned Scheme of Arrangement with the Accounting and Corporate Regulatory Authority (ACRA), marking the formal transition into the implementation phase. The platform also clarified that operations are scheduled to resume within 10 business days from the effective date of the filing, 15 October 2025.
October 23, 2025: Trading Restarts on WazirX
WazirX has officially resumed trading from October 24, 2025, with zero trading fees across all markets. The exchange confirmed that trading pairs will reopen in phases, starting with USDT markets, followed by gradual re-enablement of INR pairs.
Trading Will Begin with ZERO Trading Fee Across All Markets 🚀
Trading on WazirX will resume with zero trading fee across markets, making it easier for every user to trade seamlessly as the platform restarts.
Trading for tokens will be enabled gradually over four days,… pic.twitter.com/fG1XuWgAdK
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) October 23, 2025
While this phased rollout aims to restore liquidity and stability, WazirX has not yet released a formal recovery or claim form for affected balances yet. Withdrawals also remain restricted to selected pairs, and users are advised to review official delisting and swap lists before transacting.
Court Bars WazirX from Using Customer XRP to Offset Hack Losses
On Oct 25, the Madras High Court has barred WazirX from using customer-held XRP to offset losses from its July 2024 $230 million hack, marking a crucial legal precedent for crypto ownership in India. The court ruled that a user’s 3,532 XRP holdings cannot be redistributed under WazirX’s proposed “socialization of losses” plan, which sought to make all users absorb part of the exchange’s losses. Justice N. Anand Venkatesh held that crypto qualifies as property capable of being possessed, reinforcing users’ rights to their assets even during restructuring. The ruling requires WazirX to furnish a ₹9.56 lakh bank guarantee or escrow deposit, underscoring the growing legal emphasis on asset segregation, exchange accountability, and investor protection within India’s evolving crypto ecosystem.
Following the latest court ruling, traders are once again reminded of the importance of transparency and fund segregation on crypto exchanges. At CoinDCX, user assets remain fully backed and verifiable through our Proof-of-Reserves and FIU-registered compliance standards. If you wish to continue trading XRP or other top digital assets securely, you can do so seamlessly on CoinDCX, India’s most trusted crypto exchange.
Will Users Get Their Money Back from WazirX?
Court-led restructuring typically follows a strict verification and phased distribution mechanism. Users will likely need to:
- Maintain KYC and transaction proofs
- Wait for the official recovery portal or claim window
- Register their claim using exchange-linked email and wallet history
Tip: Keep transaction IDs, balance screenshots, and deposit history ready, these documents may be required for eligibility confirmation.
Check our blog on the Step-by-Step Guide for Withdrawals and Crypto Transfer to CoinDCX
User Checklist: How to Prepare for Claims & Future Safety
| Step | Action | Purpose |
| 1 | Save all transaction ids & email confirmations | Proof for claim verification |
| 2 | Monitor official communication | Only trust verified legal notices |
| 3 | Avoid unsolicited “recovery agents” | Prevent secondary scams |
| 4 | Test transfer to a secure exchange once enabled | Capital safety & liquidity management |
Understand the key measures that keep crypto accounts secure, from proof of reserves to regulatory compliance. This guide breaks down CoinDCX’s safety practices and protective features.
Exploring Safer Crypto Trading Infrastructure in India
After the incident, many traders began paying close attention to transparency and verifiable reserve systems across exchanges. When evaluating an exchange post-2024 security events, users typically check for:
- Verified user base with real identity backing
- Transparency Report with Public Proof-of-Reserves
- Dedicated Crypto Investor Protection Fund
- Security audits, bug bounty programs, and strict compliance
Conclusion
With the sanctioned scheme now officially filed and WazirX expected to reopen withdrawals, users are entering a decisive recovery phase. As transparency and regulated platforms become key decision factors, users are now leaning toward FIU-registered exchanges that maintain Proof-of-Reserves and CIPF-backed protection layers. Platforms like CoinDCX, which publicly disclose their reserve status and follow strict compliance standards, are increasingly being explored as a safer alternative for long-term fund management.
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