Wazirx Referral Code

No referral bonus on this page is as important as what happened to the last group of people who held balances here. This is the one page in the batch where the history is the entire story.

On **18 July 2024**, WazirX reported a cyberattack in which approximately **US$234.9 million** in digital assets were taken from a multi-signature wallet. Analysis of the attack linked it to the **Lazarus Group**, a threat actor associated with North Korea.

What followed is unusual in crypto and worth setting out precisely, because it is the substance of what a new user is joining.

On **27 August 2024**, **Zettai Pte Ltd** — WazirX's Singapore-incorporated parent — applied to the Singapore High Court for a moratorium under the Insolvency, Restructuring and Dissolution Act 2018, to restructure under a scheme of arrangement. That is an insolvency process: a court-supervised mechanism for dealing with a company that cannot meet its obligations, in which creditors vote on a plan.

The plan was put to those creditors — the users. **95.7% of scheme creditors, representing 94.6% of approved claims, voted in favour.** On **23 January 2025** the Singapore High Court approved the scheme under the Companies Act 1967. WazirX has estimated that users may recover **75% to 80% of their account balances** through token distributions, and the court-approved plan was filed with Singapore's Accounting and Corporate Regulatory Authority on **15 October 2025**, with operations restarting thereafter.

Read that recovery figure carefully, because it is the number that matters. Users who held balances on this exchange are being made whole to roughly three-quarters or four-fifths, through distributions of tokens rather than cash, following an eighteen-month court process. That is a considerably better outcome than most crypto failures produce — creditors of collapsed exchanges have frequently received far less, far later, or nothing. It is also, unambiguously, a loss.

**A correction this page owes its readers.** The previous version stated as fact that WazirX "is a subsidiary of Binance". That is not established, and it is actively disputed. Binance announced an acquisition of WazirX in **November 2019**, but has said since **August 2022** that the transaction was never completed and that it holds no equity in Zanmai Labs, the entity operating the exchange — with Binance's founder stating that WazirX did not transfer source code and administrative credentials as required. WazirX's founder rejects that account and maintains the acquisition is binding. The dispute has run publicly for years and intensified after the hack, when the question of who bore responsibility became financially significant. It is a live, unresolved commercial dispute, and presenting either side of it as settled fact — as our page did — misleads the reader about who stands behind the platform.

The referral programme itself offers 50% of the trading fees generated by users you refer. Our Bitbns page in this batch explains why that structure is worth examining: it is the arrangement the National Stock Exchange banned in Indian equities on 14 August 2024, expressly to prevent trade inducement, and it exists in crypto because no equivalent rule has been made.

And the tax position applies as everywhere else in India: **30% flat** on VDA gains plus surcharge and **4% cess**, **1% TDS per transfer** under Section 194S, **no loss offset and no carry-forward**, and mandatory **Schedule VDA** filing from FY2025-26.

If you are considering signing up here, the referral bonus should be the last thing you weigh, and the scheme of arrangement the first.