WazirX Resumes Trading After $234M Hack

GM readers! Cryptocappy returns with fresh insights from the world of crypto.

WazirX is set to restart operations on October 24 with zero trading fees—over a year after hackers stole $234M in one of crypto’s biggest breaches. Backed by 95.7% of creditors, its Singapore-approved plan will reopen access to 6.6M users locked out since the July 2024 hack linked to North Korean attackers.

INR withdrawals are already live, with crypto trading resuming Friday. Recovery Tokens will help users reclaim 75–80% of frozen funds, though some report lower-than-expected payouts. Trading will roll out in phases, starting with crypto-to-crypto and USDT/INR pairs.

To boost security, WazirX has partnered with BitGo for insured, institutional-grade asset custody.

Binance founder Changpeng Zhao, aka “CZ,” has been pardoned by U.S. President Donald Trump, the White House confirmed.

CZ stepped down as Binance CEO in 2023 and served four months in a low-security prison after pleading guilty to money laundering violations.

The pardon marks another crypto-friendly move by Trump’s administration.

First reported by The Wall Street Journal, the news adds to growing clemency for digital asset leaders.

The EU has rolled out its 19th sanctions package against Russia—its first to hit crypto.

It banned the ruble-backed stablecoin A7A5, used by Russian firms to bypass SWIFT and fund cross-border trade. All A7A5 transactions will be blocked across the bloc starting November 25.

The coin’s developer and platform operator were also sanctioned, as the EU targets both fiat and blockchain routes fueling Russia’s war economy.

Canada has fined crypto platform Cryptomus a record $126 million for major anti-money laundering failures.

The Vancouver-based firm, linked to over 2,500 unreported suspicious and large crypto transactions in July 2024 alone, was found to have ties to child exploitation, ransomware, and sanctions evasion.

It’s FINTRAC’s biggest enforcement yet—nearly 9x larger than last month’s $14M fine against KuCoin’s operator. Binance’s Canadian arm was also fined C$6M earlier this year for similar violations.

That’s all for today folks! Cryptocappy will be back with more such insights. Stay Tuned!