WazirX is leveraging artificial intelligence and expanding into futures trading as part of its strategy to recover from a USD 235 million hack in 2018. Founder Nischal Shetty has outlined plans to introduce WazirX AI, an AI assistant that will allow users to interact with the platform through natural language commands. This move aims to simplify trading for users who may be unfamiliar with traditional trading interfaces.

The exchange has already introduced WazirX ZERO, a subscription-based trading model that allows users to trade more than 300 tokens for a fixed monthly fee. This model eliminates per-trade fees, offering a more predictable cost structure for traders. The initiative is part of a broader effort to attract a wider user base and regain trust after the significant financial loss from the 2018 hack.

One of the key features of WazirX AI is its ability to execute trades based on user instructions. For instance, users could tell the AI to buy Bitcoin after a 5 per cent price decline, without manually calculating price levels or configuring trading parameters. This functionality is designed to make trading more accessible to a broader audience, including those who may not have extensive experience with cryptocurrency markets.

The introduction of AI-powered tools and new trading models could lead to increased competition in the crypto exchange sector. These developments may also influence user behavior, as traders seek more intuitive and cost-effective platforms. Additionally, the focus on customer service and product quality may help WazirX differentiate itself in a crowded market, though it will need to navigate challenges such as governance, vendor lock-in, and market volatility.

WazirX's recovery efforts include a plan to return 85 per cent of user balances within 10 days of the exchange's restart, with the remaining funds to be distributed over three years. This approach, combined with the new AI and futures trading initiatives, reflects a long-term strategy to rebuild trust and attract new users. The exchange is positioning itself for a comeback by focusing on innovation and user experience.