WazirX Launches INR Crypto Futures with India’s Lowest Fees Post-Hack Recovery

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WazirX Unveils INR Crypto Futures as Post-Hack Recovery Push Continues

Show AI Summary
WazirX launches futures trading with India’s lowest fees, aiming to disrupt the market
The platform offers INR-settled contracts, eliminating the need for crypto collateral
Traders benefit from 0.02% maker fees and 0.04% taker fees with no volume thresholds

WazirX, the most popular cryptocurrency exchange in India based on user numbers, has begun offering futures trading. They’re providing perpetual contracts settled in Indian Rupees (INR) and say their trading fees are the lowest available in India.

The platform officially launched on May 13th with low fees: makers pay 0.02% and takers pay 0.04%. There’s no minimum trading volume required. While the official announcement doesn’t mention a limit on leverage, promotional posts on X indicate up to 10x leverage is available for BTC/INR and ETH/INR perpetual contracts. This is lower than the 20x leverage offered during the early access period in March 2026. More trading pairs will be added gradually, based on market demand, risk controls, and how prepared users are.

All trades on our platform are completed in Indian Rupees, so traders don’t have to worry about holding or exchanging cryptocurrency as collateral. This is different from how many other exchanges operate. We are also fully registered with India’s financial regulatory body, FIU-IND.

Traditionally, futures trading in India has been expensive for most individual traders, with lower fees reserved for large institutions. WazirX is changing this by offering new traders the same low fee rates as these established institutions on its futures platform. According to WazirX founder Nischal Shetty, this is part of a commitment to providing a powerful, affordable futures trading experience.

INR Perpetuals: The Product Design

WazirX’s futures trading lets users trade with Indian Rupees (INR) directly, avoiding the need to first buy stablecoins. This simplifies things for Indian traders who face taxes on crypto transfers (1% TDS) and profits (30% capital gains tax).

This platform keeps the price of its perpetual contracts closely aligned with the current market price using a funding rate system. It offers features like instant profit and loss tracking and simple, one-click trading. To ensure users understand the risks, new traders must pass a quick quiz on leverage, margin, and liquidation before they can start trading futures. The platform’s interface includes powerful TradingView charts, up-to-the-minute order books, and a clear display of long/short positions along with margin information. WazirX is also focused on educating more traders about futures trading.

WazirX states its fees are lower than those of all other Indian cryptocurrency exchanges, and unlike competitors like CoinDCX and Giottus, it doesn’t require users to trade a certain amount before qualifying for those lower rates. CoinDCX and Giottus introduced similar trading options in 2025, but with higher initial fees.

Revenue Pledged to Recovery Token Buybacks

The most important part of this announcement isn’t the new product, but how the money it generates will be used. According to WazirX, profits from the new trading feature will go towards paying back creditors who hold Recovery Tokens, in addition to the 85% of funds already distributed.

This is important because 15% of users’ money is currently held in Recovery Tokens (RTs) that can’t be traded or withdrawn. These tokens were issued in January 2026 as part of a court-approved plan to restructure the company. They aren’t available on any exchange, and their value depends entirely on WazirX making at least $10 million in profits or recovering assets each quarter – something the exchange hasn’t confirmed it’s done since the restructuring began.

Lower fees attract more trading activity, leading to increased revenue that quickly replenishes the recovery pool.

The $230M Shadow

As a researcher following WazirX, it’s impossible to discuss their new futures launch without acknowledging the major event that reshaped the exchange. In July 2024, they suffered a significant cyberattack, believed to be from the Lazarus Group linked to North Korea. This attack resulted in the loss of around $230 million – nearly 45% of their reserves – and unfortunately froze the funds of over 4.4 million users. The platform was offline for a full 16 months following the incident.

Trading started again on October 24, 2025, once the Singapore High Court approved a plan to restructure the platform. Users got back about 85% of the funds they had before the hack. The other 15% was turned into special ‘Recovery Tokens’.

Around $3 million of the $230 million that was stolen has been frozen. There have been no public reports of anyone buying back Recovery Tokens. Also, the decentralized exchange (DEX) that was supposed to create more funds for those owed money hasn’t been released yet.

WazirX has reduced its maximum leverage from 20x to 10x since its early access period. This change likely reflects a more cautious approach to risk. Previously, in March, reports indicated users criticized the 20x leverage, arguing that WazirX should focus on compensating those affected by a recent hack before introducing potentially risky features.

Trust Questions Persist

This new launch continues a trend of rapid growth for the company, which has been watched closely by both customers and experts. Back in November 2025, WazirX introduced a monthly subscription called WazirX ZERO, offering unlimited trading for just ₹99. However, this move was quickly criticized by users who felt the exchange should prioritize returning funds that users were unable to access before introducing new services.

In February 2026, the platform added Shardeum’s SHM token – a project created by Shetty – and hosted a trading competition with a prize pool of 52.9 million SHM. The following month, they partnered with Sikka.fun, a platform for launching memecoins also built on the Shardeum network.

WazirX recently introduced ‘Guardians of Trust,’ a new platform focused on security and transparency. However, some are questioning whether this is a real commitment to improved security or an attempt to divert attention from the ₹15 crore debt the company still owes.

WazirX’s own cryptocurrency, the WRX token, is currently worth around 2 cents. This is a significant drop from its peak in April 2021 when it was worth $5.94, and very few are being traded daily – less than $20,000 worth.

India’s Crypto Futures Landscape

WazirX is now offering futures trading, joining a growing number of Indian companies in this market. Several others have launched similar products recently, including Giottus, which began offering perpetual futures with no fees in August 2025, and Cryptoforce India, which launched its platform in July 2025. WazirX’s main competitor, CoinDCX, has been offering derivative products since 2024.

Currently, none of the platforms offering crypto trading in India are subject to specific rules designed for derivatives. This means crypto futures aren’t covered by standard protections like circuit breakers, guaranteed settlements, or an investor protection fund. While platforms must comply with anti-money laundering rules, these don’t cover how leveraged products are traded. The government is reportedly working with SEBI and the Reserve Bank of India to create a more complete set of regulations.

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2026-05-13 14:00