WazirX Crypto Exchange Review 2025: Safety, Recovery, and Is It Worth Returning?

WazirX used to be the go-to crypto exchange for millions of Indians. By 2021, it had over 16 million users and handled more than $5 billion in trades every month. It was fast, simple, and backed by Binance-the biggest crypto exchange in the world. But in July 2024, everything changed. A security breach wiped out $230 million in user funds. For months, there was silence. Then came the news: WazirX would repay only 85% of what users lost, spread out over 18 to 24 months. Now, in late 2025, the platform is slowly coming back online. But should you trust it again?

What Happened to WazirX?

The July 2024 hack wasn’t a small glitch. It was a full-scale collapse. Attackers got into WazirX’s multi-signature wallet-the kind meant to be nearly impossible to break into. They drained nearly a quarter of a billion dollars in Bitcoin, Ethereum, and other major coins. Users woke up to empty balances. Customer support vanished. Reddit threads filled with posts like, “Lost 2.3 ETH. No replies for 8 months.”

The exchange shut down completely for 16 months. No deposits. No withdrawals. No trading. When it finally returned, it wasn’t with a bang-but with a court order. In January 2025, the Singapore High Court approved WazirX’s recovery plan. That’s right: a foreign court had to step in because Indian regulators couldn’t force a resolution. The plan? Return 85% of lost funds in installments. The remaining 15%? Gone. No explanation. No legal recourse.

Many users are angry. CryptoSecurity Insights called the 85% payout a “dangerous precedent.” Why? Because if exchanges can promise full security and then only pay back part of what’s lost, what stops others from doing the same? WazirX’s reputation didn’t just take a hit-it shattered.

Is WazirX Safe Now?

WazirX claims it’s rebuilt from the ground up. And honestly, the security upgrades sound impressive. They now use quantum-resistant encryption. Withdrawals require whitelisting and two-factor authentication. Over 98% of funds are stored in cold wallets-up from 95%. They’ve switched from annual to quarterly security audits by Cure53, one of the top blockchain security firms in the world. Real-time AI monitors every transaction. Biometric logins are now mandatory.

These aren’t surface-level fixes. They’re the kind of changes you’d expect from a company that’s been burned and wants to survive. Cure53’s August 2025 report called it “one of the most comprehensive overhaul efforts among compromised exchanges.” That’s high praise.

But here’s the catch: security isn’t just about tech. It’s about trust. And trust, once broken, is hard to rebuild. You can have the strongest encryption in the world, but if users don’t believe you’ll protect their money, no amount of tech will matter. And right now, many users still don’t believe WazirX.

Trading Features and Fees

If you ignore the past, WazirX’s platform still works well. It’s clean, fast, and easy to use-even for beginners. The mobile app (iOS and Android) loads quickly, and order execution is under 100 milliseconds. That’s faster than most Indian exchanges.

You can trade over 250 cryptocurrencies, including Bitcoin, Ethereum, Solana, and lesser-known altcoins. The minimum deposit is just $1 (around ₹83). And unlike most exchanges, WazirX offers free peer-to-peer (P2P) trading. You can buy crypto directly from other users using UPI, bank transfer, or Paytm-with zero fees.

Trading fees are tiered: 0.10% to 0.40%, depending on your 30-day volume and how much WRX (WazirX’s native token) you hold. Spot trading usually costs 0.2%. That’s average for the market. But here’s the kicker: if you refer friends, you get up to 50% of their trading fees as a commission. That’s one of the best referral programs in the industry.

But WazirX doesn’t offer margin trading or leverage. No 10x, 20x, or even 5x positions. Just spot trading and P2P. That’s a limitation if you’re an active trader looking to amplify gains. But for someone just buying and holding Bitcoin, it’s not a dealbreaker.

Fiat Support and Withdrawals

WazirX only supports Indian Rupees (INR). No USD, EUR, GBP, or AUD. That’s fine if you live in India. But if you’re outside the country, you can’t use it. That’s a major weakness compared to CoinDCX or ZebPay, which let you deposit in multiple currencies.

Withdrawal fees are higher than competitors. Sending Bitcoin out costs around ₹150, while Ethereum withdrawals run ₹200+. CoinDCX charges ₹50-₹100 for the same. And there’s a 24-48 hour delay on large withdrawals. That’s new since the hack-meant to prevent rushed thefts. But it’s frustrating if you need quick access to your funds.

KYC is mandatory. You need an Indian PAN card and Aadhaar. No exceptions. That’s standard in India, but it’s another barrier for international users.

WazirX vs. Competitors in India

Here’s how WazirX stacks up against its top rivals in late 2025:

WazirX vs. Top Indian Crypto Exchanges (2025)

Feature	WazirX	CoinDCX	ZebPay	Bitbns
Supported Fiat	INR only	INR, USD, EUR	INR, USD, EUR	INR only
Trading Pairs	250+	300+	280+	220+
Spot Trading Fees	0.10%-0.40%	0.10%-0.30%	0.10%-0.40%	0.15%-0.50%
P2P Trading	Free	Free	Free	Free
Leverage Trading	No	Yes (up to 10x)	Yes (up to 10x)	No
Security After 2024 Hack	98% cold storage, AI monitoring, quarterly audits	95% cold storage, annual audits	96% cold storage, annual audits	94% cold storage, annual audits
Recovery Status	85% fund return plan approved	No breach	No breach	No breach
Customer Support Response	72+ hours (post-hack)	4-8 hours	6-12 hours	12-24 hours

WazirX’s biggest advantage? Binance integration. Because of its connection to Binance’s liquidity, WazirX has tighter spreads and faster order fills than most local exchanges. That matters if you’re trading large amounts.

But its biggest weakness? Trust. CoinDCX and ZebPay didn’t get hacked. They didn’t lose user money. They didn’t need a Singapore court to fix their problems. For many, that’s enough to switch.

Who Should Use WazirX Today?

If you’re an Indian resident who lost funds in the 2024 hack and is waiting for repayment, you have no choice but to stay. WazirX is your only path to recovering part of your money.

If you’re new to crypto in India and want a simple, fast platform with free P2P trading and strong technical backing? WazirX could still be a solid pick-if you’re okay with the risk. You’re not just betting on crypto. You’re betting on WazirX’s ability to stay secure and follow through on its recovery plan.

If you trade frequently, want leverage, or need multi-currency support? Skip WazirX. Go with CoinDCX or ZebPay. They’re safer, faster, and more reliable.

If you’re outside India? Don’t bother. The INR-only restriction makes it useless for you.

What’s Next for WazirX?

WazirX’s roadmap is clear: relaunch in phases. Spot trading is back. P2P is returning. Derivatives and margin trading are still on hold. They’ve started publishing monthly transparency reports-something they never did before. That’s a good sign.

Industry analysts are split. Blockchain India Fund thinks WazirX could win back 60% of its old users by late 2026-if everything goes perfectly. CryptoSecurity Insights says it’s a lost cause. Trust doesn’t come back with audits and encryption. It comes with time, consistency, and zero more mistakes.

Right now, WazirX is in a fragile state. It’s not dead. But it’s not fully alive either. It’s in recovery mode. And recovery takes years-not months.

Final Verdict

WazirX is a cautionary tale wrapped in a technical marvel. The platform has the tools, the speed, the liquidity, and the Binance backing to be one of India’s best exchanges. But the 2024 hack changed everything. The 85% repayment plan, the silence, the court involvement-it all points to a company that made a massive mistake and is now trying to survive.

If you’re returning to WazirX, do it with your eyes wide open. Don’t deposit more than you can afford to lose. Don’t assume your money is safe just because the platform looks polished. And don’t expect quick answers from support.

For most people, the safest move right now is to walk away. For those who stayed, the only path forward is patience-and hope that WazirX doesn’t fail again.