WazirX Bans 2,431 Accounts Between October 2022 and March 2023

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WazirX announced that the company has banned 2,431 accounts.
The exclusion of the accounts was under the direction of the LEA and as a part of the company’s internal monitoring.
WazirX stated that it received 431 requests from LEA over the same period.

WazirX, the leading cryptocurrency exchange in the Indian crypto market, announced on Tuesday, in its Transparency Report, that the company has banned 2,431 accounts over the last 5 months. According to the report, the exclusion of the accounts has been executed under the direction of the Law Enforcement Agencies (LEA) and as a part of the company’s internal transaction monitoring process.

Notably, in the report, the company wrote that WazirX has been scrutinizing the accounts “with suspicious activities”, adding:

WazirX also proactively identified accounts with suspicious activities with the help of third-party platforms and shared the information with the Financial Investigation Unit (FIU-IND). The average turnaround time to respond to requests was 25 mins for the first cut response.

In addition, the report claimed that the company received almost 431 requests from LEAs, out of which 46 were…

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