WazirX review: PAXG after the hack

Verdict and score

WazirX is an Indian crypto exchange that lists PAX Gold against both the rupee and USDT. On 12 October 2026 its own API showed PAXG/INR and PAXG/USDT with status “trading”. That makes it one of only two Indian exchanges, with CoinDCX, where PAXG can be bought directly in rupees on an active book. PAX Gold, issued by Paxos Trust Company, N.A., represents one fine troy ounce of LBMA gold per token; see what PAX Gold is if you are new to it.

Any honest review of WazirX starts with July 2024. A cyberattack that month caused a major loss of customer crypto, and the operator, Zettai, went through a Singapore court process to restructure its debts to users. We score WazirX 5.4 out of 10 for buying and holding PAXG. The markets are back and the restructuring has moved forward, but the security score has to reflect what happened, and we could not verify current fees.

WazirX at a glance

The 2024 hack and the restructuring

In July 2024, WazirX was hit by a cyberattack that led to a major theft of crypto assets held for users. Trading and withdrawals were disrupted, and users were left as creditors of the business. We do not quote a loss figure here, because we could not confirm one on an official WazirX page during our check.

Zettai, the company behind WazirX, proposed a scheme of arrangement under Singapore court supervision. WazirX’s blog lists the key steps. Updates on the proposed scheme were posted on 13 June and 24 June 2025. A revote on an amended scheme began on 30 July 2025, after the Singapore court allowed Zettai to proceed with it. One published voting result showed 93.1% of voting creditors, representing 94.6% of the value voted, in favour. The blog then reports that the Singapore court sanctioned the creditor-approved scheme, that the scheme is now effective, and that recovery token allocation is complete.

1. Jul 2024Cyberattack

   Major loss of user crypto; operations disrupted

2. Jun 2025Scheme updates

   Posts dated 13 and 24 June 2025

3. 30 Jul 2025Revote begins

   Amended scheme put to creditors after court approval

4. After the voteCourt sanction

   Singapore court sanctions the creditor-approved scheme

5. LaterScheme effective

   Recovery token allocation reported complete

6. Oct 2026Operating

   PAXG/INR and PAXG/USDT show status trading

WazirX also says it appointed Zodia Custody as custodian ahead of restarting operations. Its official blog was publishing product updates and a deposit campaign in September and October 2026, which shows the platform is running and seeking new deposits. Several posts carry no visible date, so we have left those steps undated rather than guess. If you were a creditor, read the official posts for terms that apply to your account.

PAXG markets today

WazirX’s exchange-information API showed PAXG/INR and PAXG/USDT with status “trading” on 12 October 2026. Status tells you the markets are switched on; it says nothing about depth. CoinGecko did not list WazirX’s PAXG markets that day, so we have no volume figure. After a long disruption, assume the books are thin.

Having both pairs is useful. Compare PAXG/INR with PAXG/USDT and you can see whether the rupee book is charging a premium. For reference, CoinDCX’s PAXG/INR last price on the same day was ₹420,005 and its PAXG/USDT price was 4,171.03 USDT. Our PAX Gold price page shows the live global price, and the gold calculator converts it into rupees and tola.

Fees and deposits

We fetched WazirX’s fee page on 12 October 2026, but the content loads by script and we received only the page title. We therefore cannot confirm trading fees on INR or USDT markets, rupee deposit methods, or the PAXG withdrawal fee. Read all of them in the app before you trade.

Moving PAXG out to a wallet is the step we care about most on WazirX. On Ethereum, check that the token contract is 0x45804880De22913dAFE09f4980848ECE6EcbAf78. Paxos made Solana official on 25 June 2026 but has not published a mint address we could verify, and there is no official PAXG on BSC or Arbitrum. Our networks guide and Ledger guide show how to receive PAXG safely.

Regulation and tax in India

India has no full crypto law. Since March 2023, virtual asset service providers have been reporting entities under the Prevention of Money Laundering Act and must register with the Financial Intelligence Unit – India. Secondary sources list WazirX as registered; we did not confirm it on the FIU site. FIU-IND registration covers anti-money-laundering duties only. It is not a licence for custody or investor protection, and SEBI and the RBI do not license crypto exchanges.

Tax is the same as on any Indian exchange. Gains on PAXG are taxed at 30% plus cess, losses cannot be set off or carried forward, and 1% TDS applies to the sale value. For example, selling PAXG worth ₹50,000 means ₹500 of TDS withheld. A gold ETF is SEBI-regulated and is not a virtual digital asset. This is not tax advice; see the Income Tax Department and our PAX Gold in India guide.

Buying PAXG on WazirX cautiously

1. Read the latest official updates

   Check the WazirX blog for current terms, especially if you held funds there in 2024.

2. Verify your account

   Complete KYC with the documents the app requests.

3. Deposit a small amount of rupees

   Start small and confirm the deposit, fees and limits on screen.

4. Compare INR and USDT prices

   Check PAXG/INR against PAXG/USDT and the live price before placing a limit order.

5. Withdraw to your own wallet

   Send a test amount first, then the rest. See our wallet guide.

Pros and cons

Alternatives

CoinDCX is the main local alternative with an active PAXG/INR book. Giottus lists PAXG/INR but its book was effectively empty on 12 October 2026, and Mudrex offers a PAXG buy flow based on PAXG/USDT. CEX.IO does not accept users from India. Global exchanges offer deeper PAXG/USDT markets; check FIU-IND registration before using one from India.

For a broader look at the token’s own risks, read is PAX Gold safe, and see the exchanges overview for every venue we track.