WazirX Launches Crypto Withdrawal API, But for Whom?

WazirX, one of India's largest cryptocurrency exchanges, has launched a Crypto Withdrawal API aimed at users who manage high volumes of crypto transactions. The feature, announced on June 19, 2026, allows automated withdrawals via API calls, eliminating the need for manual requests.

The API includes multiple security measures. Users must assign a "Crypto Withdrawal" permission to their API key and enable trusted IPs for withdrawal access. Withdrawals can only go to addresses already saved in the user's address book, and newly added wallet addresses face a 24-hour cooldown before becoming eligible for API withdrawals. Additionally, a 24-hour withdrawal restriction is triggered after certain account security changes, such as password updates, email changes, or 2FA resets. Existing requirements like KYC verification and withdrawal limits remain in place.

The rollout is phased and initially available only to a select group of high-volume users on a request basis. WazirX described this as a measure to ensure a secure and reliable experience before expanding access more broadly, meaning the average retail user cannot use the feature immediately.

This launch occurs against the backdrop of WazirX's recovery from one of India's largest crypto security breaches. On July 18, 2024, approximately $234.9 million in digital assets were drained from a multi-signature wallet — an attack later attributed to North Korea's Lazarus Group. The hack forced WazirX to suspend trading and withdrawals for over 16 months, locking out more than 16 million registered users. The exchange's Singapore-based parent, Zettai Pte Ltd., pursued a Scheme of Arrangement through the Singapore High Court, which was sanctioned in October 2025 with 95.7% creditor backing. Trading resumed on October 24, 2025, though crypto withdrawals remained restricted for a time. Under the recovery plan, users received about 85% of their holdings, with the remaining 15% locked in non-tradable Recovery Tokens (RTs) issued in January 2026.

Since restarting operations, WazirX has pursued an aggressive product expansion. In November 2025, it launched the WazirX ZERO subscription model. In January 2026, it integrated Fireblocks for institutional custody. Futures trading with up to 20x leverage went live in March 2026, followed by INR-settled crypto futures in May 2026, when the exchange also unveiled a "Guardians of Trust" security hub. On May 20, 2026, WazirX representatives, along with those from Binance and ZebPay, were called before India's Parliamentary Standing Committee on Finance to discuss Virtual Digital Assets.

The API feature itself is standard among global exchanges like Binance and Coinbase. However, the phased, invite-only rollout raises questions about prioritization at a time when many retail users are still rebuilding trust after the hack, with some still holding non-tradable Recovery Tokens. Whether this institutional tool addresses the needs of WazirX's broader user base remains an open question.