In a pulsating game Hartlepool went two up early on, allowed Wrexham to pull one back before opening up a 4-1 lead, then relaxed again as the Welshmen staged a stunning late fight-back that came close to earning them a shock draw.
The home hero was midfielder Mark Tinkler, who scored a hat-trick despite being doubtful for the game with an Achilles tendon injury.
Tinkler opened the scoring with a stunning 25-yard strike after 13 minutes, hammering the ball into the top corner after being set up by new boy Marcus Richardson.
And Richardson marked his debut with a goal of his own five minutes later, slotting in a controlled shot from 12 yards after Eifion Williams had run across the visitors defence and put the big striker in the clear.
But after 20 minutes Hartlepool eased up, and the visitors' Lee Jones raced onto a long pass from skipper Darren Ferguson and finished as Hartlepool made half-hearted offside appeals.
But Tinkler struck again four minutes before half-time when he latched on to a headed pass from Eifion Williams and slotted in a good angled shot.
But his third goal, on 51 minutes, was the best of the lot, a stunning chip over keeper Andy Dibble into the far corner, after he cut inside from the left.
That should have been good enough to win any game, yet alone this one. But Pool again relaxed, and almost paid the penalty.
Battling Wrexham made it 4-2 on 68 minutes when substitutes Hector Sam and Lee Trundle combined for Trundle to score.
And Sam himself was right on the spot four minutes from time to make it 4-3 after home keeper Tony Williams brought down Jones on the edge of the area.
"It should never have been that close," said Hartlepool boss Chris Turner. "We were 2-0 up and 4-1 up, and gave away soft goals to let them back in the game.
"Wrexham manager Denis Smith said: "It's no consolation that the game was a seven goal thriller when you have lost.
"But we went close against the leaders, and that has to be encouraging."