The post WazirX relaunch after $230M hack tests trust in India market appeared on BitcoinEthereumNews.com.

WazirX relaunch comes as the exchange prepares to resume trading after a $230 million hack, under a restructuring led by Zettai and with creditor repayment plans in motion. The relaunch follows the platform’s response to the breach and the initiation of creditor repayment plans amid ongoing crypto asset recovery efforts. How will the WazirX asset recovery and restructuring under Zettai work? Following the breach first reported in 2025, the platform has been placed under a recovery plan overseen by Zettai. The group is coordinating asset tracing and pursuing parallel legal avenues to reclaim funds tied to the incident, described as a crypto exchange security breach.  From experience with large exchange incidents, effective recoveries typically require a combination of on-chain analytics, cooperation from other exchanges and custodians, and cross‑jurisdictional legal action; even then, only a portion of assets are often reclaimed within the first year. Zettai’s stated coordination with custodial partners and forensic teams aligns with industry best practice for high-value breaches and should help prioritise recoveries tied to identifiable transfers. Company statements on or around Oct 23, 2025 indicate Zettai will prioritise recoveries tied to stranded customer assets and engage custodial partners to stabilise custody operations. In practice, the initial focus appears aimed at assets most exposed by the incident. Recovery efforts remain subject to ongoing investigations and third-party verification. What are the immediate recovery steps? Immediate steps emphasise asset tracing, custodial stabilisation and concurrent legal actions. These measures are being rolled out while verification and regulatory reviews continue. What does WazirX creditor compensation and token distribution entail? Zettai has outlined creditor repayment measures intended to compensate users affected by the hack, including proposals for cash repayments alongside structured token allocations. The plan explicitly mentions a component of WazirX token distribution to creditors as part of the remediation mix. Timelines…

---

Filed under: News - @ October 23, 2025 1:30 pm