[Exchanges](https://revain.org/exchanges/) › WazirX

# WazirX: licences, security, fees and reviews

Centralized exchange

## In short

- **Legal entity**: Zanmai Labs Pvt Ltd (FIU-IND registered entity).
- **Fees**: Spot maker: WazirX ZERO plan: no spot trading fee for ₹99 per month plus GST (as of 31 October 2026).
- **Risks and caveats**: A July 2024 cyberattack took about 45% of user funds; users recovered about 85% of approved claims in the first distribution, and the rest depends on Recovery Tokens.
- **Checked**: 31 October 2026

## Key facts

- **Type**: Centralized exchange
- **Exchange launched**: 2018
- **Country of registration**: India
- **Operator**: Zanmai Labs Pvt Ltd (FIU-IND registered entity); Zettai Pte Ltd (Singapore entity under the restructuring scheme)
- **Official site**: [wazirx.com](https://wazirx.com/)

Key facts checked on 31 October 2026 against official sources and regulator registers.

## What is WazirX

WazirX is an Indian centralised crypto exchange launched in 2018, offering INR and USDT spot markets, INR-settled perpetual futures and API trading. Its registered entity with India's Financial Intelligence Unit (FIU-IND) is Zanmai Labs Pvt Ltd, and its Singapore entity is Zettai Pte Ltd.

## Good to know

- In July 2024 a cyberattack took about $230 million, which WazirX says equalled 45% of user funds. [↗](https://wazirx.com/blog/managing-your-funds-after-the-cyber-attack/)
- The Singapore High Court sanctioned Zettai Pte Ltd's scheme of arrangement under section 210 of the Companies Act, with modification, on 13 October 2025. [↗](https://wazirx.com/blog/the-scheme-of-arrangement-is-now-effective/)
- Under the scheme, eligible users received a first distribution of about 85% of approved claims; the rest is represented by Recovery Tokens tied to possible future recoveries. [↗](https://wazirx.com/blog/wazirx-restart-anniversary/)
- Recovery Tokens are entitlements to potential future recoveries under the scheme, not guaranteed payouts. [↗](https://wazirx.com/blog/wazirx-restart-anniversary/)
- FIU-IND registration is an anti-money-laundering reporting registration under India's PMLA; WazirX's own blog notes it is not a general VASP licence. [↗](https://wazirx.com/blog/what-is-a-vasp-fiu-registration-india/)
- India's 1% TDS applies to each trade, including trades under the WazirX ZERO plan. [↗](https://wazirx.com/fees)
- A dormancy fee of ₹500 plus taxes applies after 30 consecutive days without a trade. [↗](https://wazirx.com/fees)

## Services

| Parameter | Details |
|---|---|
| Spot trading | INR and USDT spot markets with 300+ listed crypto assets; QuickBuy for instant buy and sell. |
| Derivatives | INR-settled perpetual futures with leverage up to 150x, publicly launched in May 2026. |
| Fiat deposits | INR deposits by bank transfer (IMPS, NEFT, RTGS). |
| Custody / wallet | Assets are held with BitGo as custodian; Fireblocks technology was integrated in January 2026. |
| Own token | WRX; spot fee discounts under pay-per-trade depend on WRX holdings. |

## Licences and registrations

| Jurisdiction | Entity | Licence / registration | Regulator |
|---|---|---|---|
| India | Zanmai Labs Pvt Ltd | Registered with FIU-IND as a reporting entity under the Prevention of Money Laundering Act, 2002 (company statement). | [Financial Intelligence Unit – India (FIU-IND)](https://wazirx.com/blog/what-is-a-vasp-fiu-registration-india/) |

## Security and audits

- Assets are held with BitGo as custodian; Zettai Pte Ltd selected BitGo Trust in March 2025.
- Fireblocks technology was integrated in January 2026.
- Two-factor authentication is mandatory for logins and critical actions.
- In July 2024 a cyberattack took about $230 million of platform assets, which led to the Singapore restructuring.

## Security incidents

| Date | What happened | Source |
|---|---|---|
| July 2024 | Hack: WazirX says a cyberattack in July 2024 resulted in the theft of approximately $230 million, which it says was equivalent to 45% of user funds. Funds returned: Not stated as returned in the quoted notice; WazirX later restructured through a Singapore court scheme of arrangement. | [wazirx.com](https://wazirx.com/blog/managing-your-funds-after-the-cyber-attack/) |

## Fees

| Parameter | Details |
|---|---|
| Spot maker | WazirX ZERO plan: no spot trading fee for ₹99 per month plus GST (as of 31 October 2026). |
| Spot taker | Pay per trade, INR markets, base tier (₹0–5 lakh 30-day volume, 0–500 WRX): 0.40% plus taxes (as of 31 October 2026). |
| Futures maker | 0.02% for WazirX ZERO members (as of 31 October 2026). |
| Futures taker | 0.04% for WazirX ZERO members (as of 31 October 2026). |

## Who can use it

- Verification: KYC with PAN card and Aadhaar is required before trading.

## History

| Date | Event |
|---|---|
| 2018 | WazirX launched in India. |
| July 2024 | A cyberattack took about $230 million of platform assets; Zettai sought a moratorium from the Singapore High Court. |
| 13 October 2025 | The Singapore High Court sanctioned Zettai's creditor-approved scheme of arrangement, with modification. |
| 15 October 2025 | The court order was lodged with ACRA and the scheme took effect. |
| 24 October 2025 | Trading resumed in phases, with full activation planned by 27 October 2025. |
| January 2026 | Recovery Tokens were allocated to eligible users. |
| May 2026 | WazirX Futures (INR-margined perpetual contracts) launched publicly. |

## Risks and caveats

- A July 2024 cyberattack took about 45% of user funds; users recovered about 85% of approved claims in the first distribution, and the rest depends on Recovery Tokens.
- FIU-IND registration covers anti-money-laundering reporting; it is not a general VASP licence or a deposit-protection scheme.
- Futures offer leverage up to 150x, which can quickly lead to large losses.
- Each trade is subject to India's 1% TDS.

## About the company

- **Legal entity**: Zanmai Labs Pvt Ltd (FIU-IND registered entity).
- **Parent company**: Zettai Pte Ltd, Singapore, the entity that proposed the restructuring scheme.
- **Founded**: 2018
- **Founders**: Nischal Shetty (founder).
- **Headquarters**: HD-024, WeWork Enam Sambhav, Bandra Kurla Complex, Mumbai, Maharashtra 400051, India.
- **Own token**: WRX

## Official links

- Website: [wazirx.com](https://wazirx.com/)
- Fees: [wazirx.com/fees](https://wazirx.com/fees)
- Terms of use: [s3.ap-south-1.amazonaws.com/wrx-assets/WazirXUserAgreement.pdf](https://s3.ap-south-1.amazonaws.com/wrx-assets/WazirXUserAgreement.pdf)
- Security: [wazirx.com/guardians-of-trust](https://wazirx.com/guardians-of-trust)
- Blog: [wazirx.com/blog](https://wazirx.com/blog/)
- Status: [support.wazirx.com/hc/en-us/sections/8115931415834-FAQs-on-Moratorium-Restructuring](https://support.wazirx.com/hc/en-us/sections/8115931415834-FAQs-on-Moratorium-Restructuring)

## Questions and answers

**Is WazirX regulated?**

WazirX's entity Zanmai Labs Pvt Ltd is registered with India's FIU-IND as a reporting entity under the PMLA; this is an anti-money-laundering registration, not a general licence.

**Is WazirX working again after the hack?**

Yes. After the July 2024 cyberattack, Zettai Pte Ltd's scheme of arrangement took effect on 15 October 2025 and trading resumed on 24 October 2025.

**What are WazirX's fees?**

As of 31 October 2026, the WazirX ZERO plan costs ₹99 per month plus GST with no spot trading fee; pay-per-trade INR spot fees start at 0.40%, and futures cost 0.02% maker and 0.04% taker for ZERO members.

**Who owns WazirX?**

WazirX was founded by Nischal Shetty; its Indian registered entity is Zanmai Labs Pvt Ltd and its Singapore entity is Zettai Pte Ltd.

**Does WazirX publish proof of reserves?**

No proof-of-reserves report was found on WazirX's own pages; assets are held with BitGo as custodian.

## Sources

- [WazirX — Home page](https://wazirx.com/)
- [WazirX — Fees](https://wazirx.com/fees)
- [WazirX Blog — About WazirX](https://wazirx.com/blog/about/)
- [WazirX — Guardians of Trust](https://wazirx.com/guardians-of-trust)
- [WazirX Blog — Managing your funds after the cyberattack](https://wazirx.com/blog/managing-your-funds-after-the-cyber-attack/)
- [WazirX Blog — Singapore Court sanctions Zettai's restructuring scheme](https://wazirx.com/blog/singapore-court-sanctions-wazirx-restructuring-scheme/)
- [WazirX Blog — The Scheme of Arrangement is now effective](https://wazirx.com/blog/the-scheme-of-arrangement-is-now-effective/)
- [WazirX Blog — Trading to resume from 24 October](https://wazirx.com/blog/trading-to-resume-on-wazirx-with-zero-trading-fee-from-24th-october/)
- [WazirX Blog — One year since the restart](https://wazirx.com/blog/wazirx-restart-anniversary/)
- [WazirX Blog — 8 years of WazirX](https://wazirx.com/blog/8-years-of-wazirx/)
- [WazirX Blog — Zettai selects BitGo](https://wazirx.com/blog/zettai-selects-bitgo-to-enhance-fund-security-and-rebuild-user-trust/)
- [WazirX Blog — What is a VASP / FIU registration](https://wazirx.com/blog/what-is-a-vasp-fiu-registration-india/)
- [WazirX Support — Announcements](https://support.wazirx.com/hc/en-us/sections/360000016573-Announcements)

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Page updated: 2026-10-31

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Source: https://revain.org/exchanges/wazirx/