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WazirX, once India’s largest cryptocurrency exchange by trading volume, will resume operations on October 24, 2025, marking the end of a sixteen-month suspension triggered by a devastating cyberattack that drained over $230 million.

The cryptocurrency world has always been unpredictable, with several opportunities and drawbacks, the latter comprising scams and security breaches. While scams targeted users via fake websites and offers, security breaches targeted organizations and looted their funds. Since its inception, the digital asset industry has had its fair share of both scams and security breaches.

The Singapore High Court has overturned an earlier decision and has now approved a fresh vote on a revised restructuring scheme for Zettai, a company entangled in the legal battle involving the crypto exchange WazirX.

India’s Financial Intelligence Unit (FIU) has launched an in-depth investigation into cryptocurrency fund movements linked to cross-border activities. The focus is on suspicious transactions involving Pakistan-based sources, particularly in the volatile Jammu & Kashmir region. Authorities are increasingly alarmed that decentralized finance tools may be used to channel funds to extremist groups, potentially undermining national security.

WazirX, a major Indian cryptocurrency exchange, has rebranded as Zensui and shifted its parent company from Singapore to Panama. The decision comes as Singapore tightens regulations on digital asset firms. This transition underscores how rapidly evolving compliance requirements are prompting global crypto exchanges to reassess their operational strategies.

WazirX creditors approved the crypto exchange’s restructuring plan aimed at compensating victims of the July 2024 cyberattack that resulted in $230 million in lost assets. The exchange for its Scheme of Arrangement, moving closer to potentially resuming operations and starting partial asset recovery.