WazirX is gradually moving toward operational recovery after the $235 million cyberattack in July 2024, one of the most serious security incidents to hit a major crypto platform serving Indian users. The latest update indicates that the exchange has made meaningful progress following a court-approved restructuring process, with withdrawal functionality returning in stages rather than all at once.
The development matters because withdrawals have remained the central concern for affected users since trading and fund access were frozen in the aftermath of the breach. While the platform is not yet back to normal, recent disclosures suggest that WazirX has entered a more concrete recovery phase, combining legal restructuring, operational relaunch planning, and controlled access to user funds.
What Triggered the Crisis
The disruption traces back to the July 2024 security breach, which resulted in the loss of more than $235 million in crypto assets. The incident was attributed to the North Korean hacking group Lazarus Group. Following the attack, WazirX suspended trading and withdrawals while its Singapore-based parent company, Zettai Pte Ltd, worked through a restructuring process intended to address customer claims and relaunch the platform.
According to the source material, that process culminated in approval from the Singapore High Court in October 2025. The restructuring was built around a Scheme of Arrangement designed to return roughly 75% to 80% of user funds before bringing the platform back online. This structure is significant because it frames the recovery as a supervised legal and financial process, not simply a technical reopening of withdrawals.
What Withdrawals Are Working Now
At present, INR withdrawals have been partially restored. For many users, that marks the first practical sign that recovery is moving beyond planning and into implementation. However, the return of withdrawal access remains limited in scope. The same update makes clear that crypto withdrawals are still mostly restricted, with broader access dependent on ongoing security controls, legal processes, and the phased nature of the relaunch.
That distinction is important. Users looking to withdraw fiat may find limited pathways reopening, but users hoping to move digital assets off-platform should not assume that all tokens are available for transfer. Instead, eligibility may depend on the specific asset and the status of the exchange’s operational rollout. WazirX users are therefore being directed to monitor the company’s official blog and X account for updates on timelines and supported withdrawal categories.
How Users Can Approach Withdrawals
The source outlines a basic process for users who want to withdraw available balances. The first step is to log in and confirm that KYC information is current. Users should then review balances in the “Funds” section to determine whether they hold INR, crypto, or both. For fiat withdrawals, the platform’s INR withdrawal flow is the main route currently available. For digital assets, users must first verify whether a specific token has been enabled for withdrawal.
Additional checks may apply. The platform notes that users should be prepared for extra KYC or security verification, especially in cases involving larger withdrawal amounts. Once a request is submitted, the status may need to be tracked through the exchange interface or support system. This suggests that even available withdrawals may not be instant and could remain subject to review.
Why Crypto Withdrawals Remain Constrained
The continued limits on crypto withdrawals reflect the broader complexity of the post-hack environment. The original report links the restrictions to both the 2024 security breach and the ongoing investigations and restructuring process. In practical terms, this means WazirX is balancing several priorities at once: preserving asset integrity, complying with legal and court-supervised obligations, rebuilding internal controls, and restoring customer confidence.
For users, this creates a frustrating but familiar pattern seen after major exchange failures or hacks: partial reopening in one area does not necessarily translate into a full return of account functionality across the board. Even after legal approval and a scheduled relaunch, crypto withdrawals can remain subject to phased controls, internal risk reviews, and operational dependencies.
A Turning Point, Not a Full Reset
The update describes October 2025 as a major turning point for WazirX. That framing makes sense. A court-approved restructuring, a path to returning most user funds, and a relaunch schedule together represent a substantial shift from the paralysis that followed the hack. Still, the source is careful not to overstate the recovery. It emphasizes that full restoration will take time and that platform activity remains under systematic phased control.
This caution matters for both existing users and market observers. The reopening of some withdrawal capacity should be seen as evidence of progress, but not as confirmation that the platform has fully normalized. Users are effectively being told to treat the relaunch as a reset phase rather than a return to business as usual. That means expectations need to stay aligned with the realities of legal restructuring and staged operational recovery.
What Users Should Do Next
Based on the current guidance, affected users should take several practical steps. First, ensure that KYC records are complete and reflect current identity information. Second, confirm that linked bank account and wallet details are up to date. Third, follow official communication channels closely rather than relying on rumors or third-party interpretations of access timelines. Finally, users should be prepared for delays, additional verification, and differences between fiat and crypto withdrawal availability.
The source also notes that users facing withdrawal delays should verify whether every required step has been completed before contacting support, while also recognizing that response times may remain slow. For Indian users, there may also be tax implications associated with crypto withdrawals, particularly around capital gains, making professional tax advice a prudent step before moving funds.
The Broader Significance
WazirX’s recovery process highlights how exchange crises increasingly unfold at the intersection of cybersecurity, legal restructuring, and customer asset restitution. The platform’s path forward is no longer just about repairing systems after a hack; it is about executing a court-recognized plan to restore access in a way that is orderly, auditable, and sustainable.
That does not eliminate risk or uncertainty. Users still face restricted crypto withdrawals, incomplete restoration, and the possibility of continued delays. But compared with the immediate aftermath of the attack, the exchange now appears to be operating from a framework that offers more clarity than before. The combination of partial INR withdrawal access and a defined restructuring outcome is a meaningful signal, even if many users will reserve judgment until crypto withdrawals are broadly restored.
For now, the most accurate takeaway is a balanced one: WazirX is no longer in pure crisis mode, but it is also not fully back. Partial INR withdrawals, continued crypto restrictions, and a phased relaunch define the current moment. The recovery is real, but it remains incomplete.