Updated September 2026. India still has a huge crypto crowd, and WazirX is one of the names people keep asking about. One question naturally comes up:
Should you still use WazirX after the July 2024 hack, the Singapore court scheme, and the October 2025 restart?
If you’re unsure, let’s fix that.
This WazirX review covers fees (including WazirX ZERO), FIU claims, recovery and INR freeze status, products, tax/TDS, and who the app is actually for in 2026. I’ll flag anything that isn’t rock solid so you can check the site yourself.
Disclosure: Some links on this site may be affiliate links (see deals). That doesn’t change the caveats below. This is not financial, tax, or legal advice. Crypto is volatile. Never risk money you can’t afford to lose. There are no guaranteed profits. Always verify live fees, FAQs, and FIU claims on wazirx.com before depositing.
WazirX review snapshot (2026)
| Item | Summary (verify live) |
|---|---|
| What it is | India-focused crypto exchange (spot, P2P, INR futures marketed after restart) |
| Founded | 2018 (Nischal Shetty and co-founders). Historically Binance-linked. Now running under a post-scheme restart story. |
| FIU framing | Says FIU-IND registration / PMLA reporting. Check the site for the current claim. |
| Biggest risk story | July 2024 hack (public figures around $230M+) → court scheme → Oct 2025 restart → Recovery Tokens in 2026 |
| Fee hook | WazirX ZERO: ₹99/month + tax for 0% spot trading fees on supported markets. TDS still applies. |
| Best for | Existing users and active traders who accept the recovery history and run the ZERO maths |
| Not ideal for | Brand-new users looking for the calmest first INR exchange (prefer CoinDCX, CoinSwitch, Mudrex, or ZebPay) |
| My take | Usable if you know the history. Not my default #1 for fresh money in 2026. |
Want alternatives? See best crypto exchanges in India and the head-to-head WazirX vs CoinDCX.
What happened: hack, court scheme, restart
Older reviews that still call WazirX the undisputed “#1 India exchange” are outdated. Here’s the short 2024–2026 arc from public reporting and platform communications. Treat remaining balances, buyback outcomes, and freeze ETAs as uncertain unless official FAQs say otherwise.
- 18 July 2024: Major breach. Public loss figures commonly cited around $230–235 million.
- Court-supervised recovery: Singapore High Court sanctioned a scheme of arrangement (widely reported mid-October 2025) after strong creditor voting.
- ~24 October 2025: Trading restarted and first distributions went out under the scheme. Eligible creditors were described as getting a large first portion of approved claims (often summarised around ~85% of reference-date claim value). Creditors should lean on scheme documents, not blogs.
- 9 January 2026 (reported): Non-tradable Recovery Tokens for the leftover slice. Value depends on future platform value / buyback rules. Not a promise of full cash on a fixed date.
- H1 2026: WazirX said most post-restart activity came from returning users. Messaging talked about custody upgrades (BitGo; Fireblocks work) and product rebuilds, including futures.
Legacy INR freeze (~34%): still no firm date
WazirX support FAQs have said roughly 34% of earlier INR balances stayed frozen because of external disputes and LEA-related bank processes, while about 66% was already available. New INR deposits after the late-October 2025 restart window were described as fully usable for trade and withdraw.
Community AMA coverage in September 2026 pushed back on rumoured fixed unfreeze dates. If you have locked legacy INR, treat any social-media ETA as unverified until WazirX support emails or FAQs say otherwise.
Is WazirX FIU registered / legal to use in India?
Crypto trading is not banned in India. It’s taxed as a Virtual Digital Asset (VDA), and platforms serving Indians are expected to register with FIU-IND under PMLA and run KYC/AML. WazirX markets itself as an FIU-registered reporting entity (secondary lists often mention Zanmai Labs).
The thing is, FIU registration means AML reporting obligations. It is not SEBI “approval”, not deposit insurance, and not a guarantee you’ll be made whole after a hack. Re-check the claim on the exchange site before large deposits. Also see how we frame FIU across venues in the exchanges guide.
WazirX fees in 2026 (ZERO vs Pay Per Trade)
| Fee type | What public materials say (confirm live) |
|---|---|
| WazirX ZERO | ₹99/month + applicable taxes. Unlimited 0% spot trading fee on supported markets. Auto-renews from INR, then crypto. |
| Pay Per Trade | % fee by 30-day INR volume + WRX holdings. Open the live slab table. |
| Futures (ZERO members, marketed) | Often cited ~0.02% maker / ~0.04% taker without high volume thresholds. Check the site. Leverage can liquidate you. |
| P2P | Often zero platform commission. Spreads and counterparty risk still cost money. |
| INR deposit | UPI / IMPS / NEFT / RTGS commonly supported post-restart. Check limits. |
| Crypto withdraw | Network / asset-specific. Check the site before moving size. |
| 1% TDS | Still applies under ZERO (platform FAQs). Claim via ITR with records. |
When ZERO is worth it: you place enough spot trades that ₹99 beats percentage fees. When it isn’t: low activity, or you forget auto-renew and WazirX converts small crypto holdings to pay the subscription (per support FAQs).
Features: trading, P2P, futures, UX
- Spot markets: INR and USDT pairs across a large token list (counts change; marketing often cites 300+).
- Order types: Market, limit, stop-limit style tools on the trading UI. Confirm what’s live in your app build.
- P2P: Long-standing INR ↔ USDT peer market. Useful when bank rails hiccup. Escrow disputes, fake UTR screenshots, and bank freezes are real risks. Stick to WazirX’s official P2P flow and clear payment proofs.
- Futures: INR-settled perpetual futures have been marketed post-restart, including high max leverage on some contracts. High leverage plus 30% VDA tax plus limited loss set-off is a rough mix for beginners. Treat as advanced-only.
- WRX token: Historically used for fee discounts under Pay Per Trade. ZERO changes that maths. Don’t buy WRX on outdated discount assumptions without checking the current fee page.
- UX: Dense, pro-ish dashboard. Fine once you learn it. Less beginner-friendly than CoinSwitch-style retail apps.
Security: what improved vs what still worries me
Positives (platform messaging / public reports)
- Move toward institutional custody partners (BitGo cited; Fireblocks integration work described).
- Court-supervised scheme for creditors instead of pure radio silence.
- Mandatory KYC, 2FA, AML monitoring as an FIU-framed VDA service provider.
- Stated separation of new INR usability after the restart window vs legacy freezes.
Remaining concerns
- History of a large custody failure. Trust has to be re-earned with time and audits, not blog posts.
- Recovery Tokens are not a guaranteed full cash payout on a calendar date.
- Legacy INR partial freeze without a firm public ETA.
- Proof-of-reserves: confirm the latest published attestation yourself. Don’t assume continuous third-party PoR.
- Customer support quality is mixed in public reviews. That matters a lot during freezes.
Practical safety: enable authenticator 2FA, anti-phishing code, withdrawal allowlist. Test small withdrawals. Keep long-term holdings in a wallet you control. See crypto wallets for beginners in India.
Tax and TDS on WazirX
- ~30% flat tax on VDA transfer income (+ surcharge/cess), with limited deductions and loss set-off under India’s VDA framework (carried into the Income-tax Act, 2025 transition from 1 April 2026).
- 1% TDS typically auto-deducted on domestic trades, even under ZERO.
- Download trade reports / GST invoices from the app for ITR prep.
- Use a dedicated tracker: best tools to track crypto taxes in India.
Don’t try to “avoid” tax via undocumented P2P or hiding trades. Reporting visibility is increasing.
Pros and cons (2026)
| Pros | Cons |
|---|---|
| ZERO subscription can crush spot % fees for active traders | 2024 hack + Recovery Token residual risk |
| INR rails + P2P depth for Indian users | Legacy INR freeze uncertainty for older balances |
| FIU / PMLA compliance framing (verify on site) | Not the calmest first exchange for absolute beginners |
| Returning-user liquidity rebuilding post-restart | Futures leverage can wipe accounts quickly |
| Familiar brand for long-time Indian crypto users | Fee / product pages still change. Re-check often. |
Who should use WazirX in 2026?
- Yes, with eyes open: existing users who completed KYC, understand Recovery Tokens, and want ZERO for high trade frequency.
- Maybe: experienced traders comparing fee maths vs CoinDCX after reading current FAQs.
- Probably not as your first app: complete beginners. Start with CoinDCX, CoinSwitch, Mudrex, or ZebPay (see CoinDCX vs ZebPay).
- Creditors with locked balances: follow official WazirX support / scheme updates. Don’t double-down emotionally.
How WazirX compares (short)
| If you want… | Consider… |
|---|---|
| Safest default new INR stack | CoinDCX (vs WazirX) |
| Coin Sets / SIP style | Mudrex |
| Long India brand, simpler spot | ZebPay side of CoinDCX vs ZebPay |
| Full shortlist | Best crypto exchanges in India (2026) |
FAQ: WazirX review (2026)
Is WazirX safe to use in 2026?
It’s operational again under a court-sanctioned recovery path, with stated custody upgrades and FIU framing. The 2024 incident still matters. Size deposits carefully, prefer self-custody for holds, and read live FAQs on Recovery Tokens and any INR restrictions. “Safer than the crisis peak” is not the same as “risk-free”.
Is WazirX FIU registered?
WazirX states FIU-IND registration as a VDA reporting entity. Verify on the official site. FIU status is compliance hygiene, not an insurance policy.
What is WazirX ZERO?
A ₹99/month (+ tax) subscription for unlimited zero-fee spot trading on supported markets. Auto-renews. TDS still applies. Confirm current terms in WazirX support FAQs.
Will I get 100% of funds lost in the 2024 hack?
Scheme distributions and Recovery Tokens are meant to address creditor claims over time. Residual value depends on scheme mechanics and future platform value. Not a blogger guarantee. Creditors should rely on official scheme documents.
When will the remaining ~34% INR unlock?
As of late September 2026 public AMA/support framing, there was no confirmed public date. Ignore rumoured calendar dates unless WazirX publishes them officially.
Does WazirX deduct 1% TDS?
Yes, typically on VDA trades per Indian rules, including under ZERO. Keep reports for ITR.
Should beginners start on WazirX?
Usually no. Prefer a calmer first INR venue from our 2026 exchanges guide, then revisit WazirX if ZERO maths clearly wins for your volume.
Final verdict
WazirX in 2026 is usable if you go in with eyes open. It is not the automatic #1 for new Indian crypto users.
ZERO can look good if you trade often. INR rails and P2P are still useful. FIU framing is a baseline you should still verify. Against that: a major 2024 hack, Recovery Token uncertainty, and legacy INR freeze caveats.
If you use it, trade small relative to your net worth, keep tax records, and withdraw long-term holdings to a wallet you control.
Prefer a more straightforward starting point? Open CoinDCX and compare the live INR options →
That’s it.
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