News Scrap

The WazirX team confirmed that the WazirX platform is ready to re-open crypto trading services.

WazirX was a popular crypto trading platform in the jurisdiction of India. More than four months ago, this platform faced a hacking incident & lost nearly half of the customer’s funds; till then, the services of this exchange have been unavailable. Currently, the WazirX leaderships are busy in getting regulatory approval to restart crypto trading services legally.

On 18 Dec 2024, The WazirX team informed the WazirX customers that the exchange is ready for a fresh restart of WazirX’s crypto trading services with better efficiency & approach.

WazirX informed that currently, they’re waiting to get regulatory approval to reopen services and simultaneously launch a new decentralised crypto exchange (DEX) with a more specialized user-friendly ecosystem.

With the ongoing efforts, the WazirX team aimed to prioritize fairness, efficiency, and enhanced services for all Scheme Creditors.

We are gearing up for a fresh start with enhanced services and a recovery-driven approach for Scheme Creditors.

Following Scheme approval (subject to legal and regulatory requirements), we plan to reopen the WazirX platform and launch a decentralized exchange (DEX) with… pic.twitter.com/F7MObirmfF

— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) December 18, 2024

Yesterday, the WazirX team confirmed that the value of the holding funds belonging to the WazirX customers surged significantly. Now the WazirX team will use these funds to support RTs, a type of centralised token that will be given by the WazirX exchange to the customers.

As per reports, the WazirX exchange will use the surplus value to buy RTs to provide price stability to the Token value.

Binance to delist WazirX token ($WRX)

On 18 Dec 2024, the Binance crypto exchange announced the delisting of three crypto tokens, including WazirX’s native token, $WRX.

Following this news, the trade price of the $WRX token crashed 57% in the last 24 hours. The current trade price of this Cryptocurrency is $0.1.

Some crypto investors claimed Binance took this action because the trade volume of this Cryptocurrency plummeted, as the confidence of crypto investors in the $WRX token degraded significantly in the last 4 months, because WazirX exchange has been struggling badly.

$WRX Token delisted by @binance.
What a shameless hypocrisy by Binance!

Proof they profit from projects only to discard them later, they consumed $WRX profits, Binance’s hypocrisy knows no bounds, pretending to be innocent while crushing projects and users.#WazirX Users 💔 pic.twitter.com/VVqEfOFUOW

— A͛mol🗿 (@AmolJagde) December 18, 2024