India’s major Crypto Exchange Wazirx’s restart is being talked about, the more difficult it is, the more difficult it is because Wazirx will restart from zeroThe platform, which was closed after a $ 234 million hacking in July 2024, is now waiting for the approval of the Singapore High Court on 13 May 2025. As soon as the approval is received, the company is claiming to resume the operation in 10 days, but the real challenge will begin at the time of Restart, which will be even bigger than the Wazirx Hack. Let’s know the big challenges, which can become a hindrance in the way of standing the wazirx again.
Creating a new blueprint for cyber security
Hacking of 2024 made it clear that Wazirx’s security walls were weak. Now the exchange will have to prepare a very strong cyber security framework, so that users can believe that their funds will now be secured. Without a transparent and third-party audited security plan, the trust of investors will be very difficult to win again.
Users lose confidence
Due to hacking, millions of users had to lose their funds and stopped withdrawal. Many investors also expressed their anger on social media. Now, even though the company is bringing a compensation scheme, it will not be easy to recreate the trust that is broken. Users will need transparent communication, regular updates and customers support, which have been absent to a great extent.
To implement and maintain balance
Users’ expectations on Zettai’s Medication Token scheme are, but the scheme itself is a large logistical and economic challenge. The company will buyback from its net profit to Medication Tokens, but the question is whether the profit will also come? If the company suffers losses in the initial months, the compensation process may slow down, which may make users more angry.
Lack of legal and regulatory clarity
Despite the petition filed by the Wazirx in the Supreme Court, regulatory uncertainty still remains. Crypto regulation in India is not yet completely clear. If a new government policy comes in the future or a tough step is taken by the RBI, Wazirx may get a major setback.
Lag the race
When Wazirx was closed, cryptocurrency exchanges such as Coinswitch, Coindcx have further strengthened their grip in the market. Where Coinswitch Wazirx hack A plan of 600 crore ($ 75 million) was also launched to attract the users affected in it. In such a situation, Wazirx will now have to invest in more marketing, innovation and customer service to get the same market share again.
Conclusion
Wazirx’s resumption may seem easier with the approval of the court, but the real fight will begin after that. Cyber security, users trust, compensation scheme, regulatory barriers and strict competition will be mandatory to solve all these without delay and transparency. If the company does not work together on all these fronts, its “Restart” may remain a temporary relief.
