WazirX takes an important step in its comeback after the hack with the rollout of recovery tokens

RTs effectively function as conditional claims, tying user outcomes to WazirX’s ability to generate profits and recover assets over time.

India’s largest crypto exchange WazirX has taken another visible step in its long recovery process following the 2024 hack, confirming on January 9, 2026 that recovery tokens have been credited to all eligible users under the court-approved restructuring plan.

This step sets the stage for users to potentially recover up to 75-80% of their escrow funds over time, depending on future profits and recovered assets.

Recovery tokens issued as the restructuring plan progresses

In a post shared on X, WazirX said Recovery Tokens, or RTs, were issued within the 60 business day timeline established in the restructuring plan. The exchange added that users can now view their allocations directly from the Funds tab of the WazirX app.

According to the company, the tokens were allocated on a pro-rata basis, meaning each user’s share reflects the size of their approved claim, without special treatment. It framed the update as an important milestone after the platform’s restart at the end of October last year.

When trading resumes, eligible users will be eligible received an Initial Payment representing approximately 85% of their approved claims, based on reference prices established under the scheme. The newly issued RTs represent the remainder of the user claims and entitle holders to future repurchases by the company, provided sufficient value is recovered.

The exchange emphasized that RTs are not tradable at this stage. Under the scheme, it will assess recoveries in rolling three-month periods. If at least $10 million of unencumbered value is realized in a cycle, a portion of that amount will be used to buy back RTs, creating a new distribution for users. Smaller recoveries will be carried forward until the threshold is reached.

How the hack and the court rulings shaped the recovery path

The recovery efforts trace back to the July 2024 exploit that drained more than $230 million from a multi-signature WazirX wallet. Blockchain data later showed that large amounts of Shiba Inu (SHIB), Ethereum (ETH), and other tokens were moved and sold, wiping out nearly 45% of the exchange’s reserves. The incident kept the platform offline for more than a year and led to legal disputes over how to share the losses.

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In October 2025, the Madras High Court dealt a blow to WazirX’s original plan to spread the losses across all users. The court ruled that customer assets such as XRP cannot be used to offset unrelated platform losses, and confirmed that cryptocurrencies remain the property of individual users. That decision, along with Singapore High Court approval and support from more than 95% of voting creditors, pushed WazirX toward a more structured, claims-based recovery model.

Under the current setup, recovery tokens keep users tied to future progress without forcing immediate decisions. WazirX has said the tokens may become tradable later, subject to regulatory approval, giving users the option to exit early or hold for potential upside.