The exchange was supposedly acquired by Binance in 2019. However, Binance CEO Changpeng Zhao now claims that the acquisition was “never completed.” Wazirx, however, maintains that it was acquired by Binance.a press release Friday concerning Wazirx, a major crypto exchange in India. ED is a law enforcement and economic intelligence agency of the government of India. The announcement details:
The announcement describes: “ED found that large amount of funds were diverted by the fintech companies to purchase crypto assets and then launder them abroad. These companies and the virtual assets are untraceable at the moment.” The lax KYC norms, loose regulatory control of transactions between Wazirx & Binance, non-recording of transactions on blockchains to save costs and non-recording of the KYC of the opposite wallets has ensured that Wazirx is not able to give any account for the missing crypto assets. It has made no efforts to trace these crypto assets.
cz_binance is a liar that's the proof binance is also under investigation 🔎
Vande matram
India still fights with inevitable future
Immediately after the news broke dat India’s WazirX exchange is being probed by authorities for money laundering, Binance CEO CZ claims dey never acquired the firm. Yet 93 legal documents confirm Binance owns dem, & CZ even admitted it in tweets last yr.
Bitcoin only has value till US dollar has its. It is just a pönzi which has no real value of its own. USD is still better than btc as it atleast gets printed whereas btc is an invisible speculative saviour which is just invented to make the rich richer. 🤘☯️🤘
The rohit bad
If binance gets into WazirX they would be banned and moreover cz_binance claims he doesn’t own this 3rd rated exchange WazirXCares NischalShetty … This is Government of India 🇮🇳💪
gov not playing well with crypto this keeps getting worse. Just let the people make their own decisions lmao. Market demand heading for DAOs is important here, where communities get to govern their own assets. Seen this successfully in the bitDAO treasury, and could be replicated
I like that Binance takes advantage of every situation
Why, it pick India... Ring any bell anyone..
Great Job by ED WazirX scamed people in India
XRP🚀🚀🚀
Correct Indian flag this is not proper way to represent flag 😡
Hmmmm
This is great reporting - kudos Alex Kelms/ v interesting story which is likely to get more interesting
ED searches the Director of WazirX Crypto-Currency Exchange & freezes its bank assets worth Rs 64.67 Crores for assisting accused Instant Loan APP Companies in the laundering of fraud money via purchase & transfer of virtual crypto assets.
Another Binance exchange assets frozen 🤨.
Don’t worry it will short out soon👍
Don't worry india and indian both are good
Why is everybodyy silent about this
That's cool
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Don't be afraid to try