Wazirx Partners with Zodia Custody for Secure Relaunch After Major Hack

Following a severe security breach that resulted in significant financial losses, Indian crypto exchange Wazirx is gearing up for a relaunch. The company has responded by reinforcing its security infrastructure and adopting stricter compliance measures.

To further enhance user asset protection, Wazirx has partnered with Zodia Custody, a trusted digital asset custodian backed by major financial institutions including Standard Chartered, Northern Trust, SBI Holdings, National Australia Bank (NAB), and Emirates NBD.

Trusted Partnership for Compliance and Protection

Zane Suren, Managing Director, Commercial, MEA at Zodia Custody, underscored the significance of this collaboration. He stated, “Zodia Custody is proud to partner with Wazirx for their much-anticipated relaunch. Providing our knowledge of supporting institutional clients and commitment to a compliance-first approach, we will empower Wazirx and its users to seamlessly engage with digital assets in a way that protects their capital and complies with local regulation.”

Nischal Shetty, co-founder of Wazirx, also emphasized the importance of reliable partners in ensuring a secure relaunch. He remarked, “As Wazirx gears up to revive its momentum, the need for trusted partners who share our commitment to an agile and secure asset management system, combined with dependable insurance coverage, becomes urgent.”

To restore trust, Wazirx has implemented rigorous risk management protocols. Zodia Custody brings additional layers of protection with its SOC 1 Type I and SOC 1 Type II accreditations, ensuring assets remain segregated and secure.

By combining a robust compliance framework with state-of-the-art security, Wazirx aims to regain its position as a reliable platform for crypto trading. With this renewed focus on safety, the exchange is set to offer a transparent and secure trading environment upon its relaunch.