Binance Tells WazirX to Withdraw Customer Assets Held in its Wallets-Is it an End of the Collaboration?

The dreadful days for the Indian crypto community have not vested following the ignorance of digital assets in the recent announcement of Budget 2023. The power cash between the two titans began a few months before, which now appears to have reached its destiny of closure. Binance, the top crypto exchange has asked told.

Timeline of Wazirx

The company told Zanmai to withdraw all funds and assets in Binance wallets used for WazirX operations on February 3, 2023, no later than 11:59 PM UTC.An official blog post explained that the ultimatum was issued as Zanmai refused to clarify or retract misleading statements about its relationship with Binance.CZ's company previously shuttered its off-chain fund transfer channel with the Indian crypto exchange back in August 2022.  Zanmai Labs, the company behind Indian crypto trading venue WazirX, has until 11:59 PM UTC on February 3, 2023, to withdraw all assets in Binance accounts used for WazirX operations, an official blog post released on Friday said.

Following the FTX liquidity and bankruptcy incident, which caused panic in the cryptocurrency sector, numerous digital asset providers have begun publicizing their reserve funds. WazirX, an Indian cryptocurrency exchange, recently joined the ranks of other crypto platforms that have embraced proof of reserve transparency.

India's top crypto exchanges CoinDCX and WazirX promised to release their proof-of-reserves (PoR) in the coming days after global crypto exchanges hurried to release their proof-of-reserves following the collapse of FTX. Indian crypto exchange CoinDCX today released their proof-of-reserves, showing their commitment to the Indian crypto community.

WazirX, the Indian crypto exchange, has said that it is currently working with a third-party vendor to conduct an audit of its reserves, which will provide a proof of its holdings. The post WazirX to share Proof of Reserves with the public appeared first on CryptoSlate.

WazirX founder's blockchain project Shardeum closes $18 million seed round, raising funds from over 50 investors including Spartan Group and Big Brain Holdings. The post WazirX founder's blockchain project Shardeum raises $18 million appeared first on The Block.

The layoffs come nearly two months after Indian authorities began investigating WazirX for alleged money laundering.  The post Indian crypto exchange WazirX confirms layoffs: CoinDesk appeared first on The Block.

Popular Indian crypto exchange WazirX has announced that it will initiate an auto conversion of all existing balances of the second largest stablecoin USDC, Pax Dollar (USDP), and True USD (TUSD).

Indian cryptocurrency exchange WazirX on Monday said that India's Enforcement Directorate (ED) has unfrozen its bank accounts after the exchange's “active cooperation” and “active anti-money laundering” checks led to blocking suspicious accounts. India's ED last month froze the accounts of the cryptocurrency exchange WazirX as part of a money laundering investigation.

WazirX's bank accounts were unfrozen by India's agency for combating financial crime, according to the cryptocurrency exchange. One of the biggest cryptocurrency exchanges in India by trading volume, WazirX, claimed in a statement that the Enforcement Directorate cleared its funds as a result of its active participation in the current money laundering probe.

India's Enforcement Directorate (ED) has unfrozen the bank accounts of cryptocurrency exchange Wazirx, the company said. The accounts were frozen as part of the federal agency's investigation into 16 fintech companies and instant loan apps.