Is WazirX shutting down?

What is WazirX?

WazirX is India's own crypto exchange. Launched in 2018, it allow users to buy, sell & trade crypto assets.

The Acquisition

In 2019, Binance acquired Wazirx and since then its operating as its subsidiary. Checkout -

What went wrong?

The Directorate of Enforcement (ED) has accused Wazirx for its involvement in possible money laundering activities

Accounts Frozen

The ED has conducted searches on one of the directors of WazirX and has frozen the bank accounts containing 64.67 crore.

What's the case?

Case 1: Outward remittance to unknown wallets worth Rs 2790cr. Case 2: Allowing foreign users on the platform.

Is WazirX shutting down?

WazirX won't be shutting down anytime soon but the company has to pay heavy penalty if the charges are proved against it.

Are your coins safe?

The allegations will not stop WazirX operations. Users can continue to trade on the platform

WazirX Case Update:

ED has found illegal transactions worth 100cr diverting to foreign wallets. Check updates-

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