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WazirX says a security breach on July 18, 2024, stole more than $230 million in digital assets from one multisignature wallet. The exchange initially paused INR and crypto deposits and withdrawals and halted trading. Since then, eligible users have had staged access to some INR funds, and WazirX has restarted its platform under a Singapore restructuring scheme. Those milestones do not confirm that every user can now withdraw every asset or amount: check your current WazirX account notices for your own permissions and limits.
What happened in the WazirX breach?
WazirX says the attack occurred on July 18, 2024, and affected one multisignature wallet managed using Liminal’s custody and wallet infrastructure. The company described the stolen digital assets as exceeding $230 million. WazirX identified the affected wallet as an Ethereum multisig holding ETH and ERC-20 tokens, and said INR funds and funds on other blockchains were not affected by the attack.
A multisignature wallet requires multiple signatures to authorize a transaction. WazirX’s public incident materials establish the wallet type and custody arrangement, but do not provide enough technical detail to determine exactly how the attackers bypassed or misused its controls. The company’s account is a primary source for what it reported; it is not, by itself, an independent forensic finding.
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On July 21, 2024, WazirX said it had paused INR and crypto deposits and withdrawals and halted trading while it investigated the breach and assessed the effect on collateral. WazirX said the theft had affected its ability to maintain 1:1 collateral. Its immediate response, as described by the company, also included contacting exchanges, conducting forensic and security work, reporting the incident to law enforcement, and announcing a bounty.
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The halt was an emergency response to the breach, not a statement that all customer assets had been stolen. WazirX said the compromised wallet held ETH and ERC-20 tokens and that INR and other blockchain funds were unaffected by the attack. The company later said it restored account balances to their July 18, 2024, 1 p.m. IST state and reversed trades made after the withdrawal stoppage.
How the withdrawal halt and restructuring unfolded
| Date or period | What WazirX reported | What it means for users |
|---|---|---|
| July 18, 2024 | WazirX says the attack targeted one multisignature wallet using Liminal infrastructure and stole more than $230 million in digital assets. | The incident affected the company’s ability to maintain 1:1 collateral, according to WazirX. |
| July 21, 2024 | WazirX announced a pause on INR and crypto deposits and withdrawals and halted trading. | This was the initial broad suspension; it should not be confused with later, limited INR access. |
| August–September 2024 | WazirX phased INR withdrawals for eligible users, capped at up to 66% of INR balances. Its day-wise report says phase two was brought forward to September 3. The company also reported restoring account balances and reversing trades made after the withdrawal stoppage. | The INR reopening was staged and eligibility-based. It did not establish that crypto withdrawals had resumed. |
| 2025 scheme process | WazirX’s day-wise report recounts an initial Singapore High Court refusal in June 2025, further proceedings, a creditor revote, and sanction of an amended scheme in October. WazirX reported that 95.7% of voting creditors, representing 94.6% of associated Approved Claims, supported the amended scheme in the revote. | The vote percentages are WazirX-reported figures, not an independent survey. The restructuring addressed creditor claims through a formal scheme process. |
| October 15–24, 2025 | WazirX says the scheme became effective on October 15 and the platform restarted on October 24. | A platform restart is distinct from proof of unrestricted, account-level withdrawals. |
| January 2026 | WazirX said eligible users received a first distribution representing approximately 85% of Approved Claims at reference token prices, and that Recovery Tokens had been allocated within the scheme timeline. | The stated percentage is not an 85% recovery of each user’s original portfolio value or its current market value. |
What does the first distribution of approximately 85% mean?
In its January 2026 update, WazirX described the first distribution as approximately 85% of eligible creditors’ Approved Claims, valued using reference token prices. That percentage refers to the scheme’s claim valuation and distribution framework. It does not mean every user received 85% of the original dollar value of their holdings, or 85% of what those assets would be worth at current market prices.
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The distribution is also separate from the initial INR withdrawal phases. The latter provided eligible users with staged access to a capped portion of INR balances in 2024; the scheme distribution followed the later creditor process.
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WazirX says Recovery Tokens have been allocated to eligible users under the scheme and are not currently tradable. They represent a mechanism for potential future recovery, not immediately withdrawable or freely saleable crypto.
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WazirX says any future buyback depends on scheme conditions, including sufficient profits and recoveries of illiquid assets. The company’s support information describes advisors tracing assets and developing recovery strategies, but the available company statements do not establish a final public attribution for the attack or a final total amount recovered.
Can WazirX users withdraw crypto now?
The official material summarized here confirms the October 2025 platform restart and the January 2026 scheme distribution, but it does not verify current crypto or INR withdrawal permissions and limits for an individual account. A restart or distribution should not be treated as confirmation that every account can make every kind of withdrawal.
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- Check the withdrawal options and limits shown in your current official WazirX account notices.
- For an account-specific restriction or unclear status, use WazirX’s official support channels and account communications.
- Do not infer that crypto withdrawals resumed merely because eligible users received INR access in 2024, the platform restarted in 2025, or Recovery Tokens were allocated in 2026.
What is known—and what remains unresolved
WazirX’s official incident updates and support pages are useful for the company’s reported timeline, scheme terms, and announcements. They do not independently establish the exploit’s final attribution, a final recovery total, or the withdrawal rights currently available to a particular account. Those account-level permissions need to be confirmed through current official notices.
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