WazirX bets on zero-fee crypto trading to drive relaunch after long hiatus

India-based crypto exchange WazirX is set to restart trading following a long hiatus caused by a $234 million security breach in July 2024. CEO Nischal Shetty announced that the relaunch will feature zero trading fees for at least 30 days to encourage user re-engagement. The platform will gradually enable trading for all tokens between Friday and Monday to test system stability, starting with USDT trading pairs before expanding to Indian rupee-based pairs. The inactivity followed a major security incident that led to asset drainage and forced the exchange to suspend withdrawals, resulting in court-supervised restructuring proceedings for its parent company, Zettai. WazirX also noted that some listed tokens were delisted or swapped due to project developments during the downtime.

(Source：Cointelegraph)