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Title: Raid On Crypto Firm WazirX: "Helped Illegal Chinese Firms Divert Money" Post by: talkoncrypto Official on August 05, 2022, 02:05:49 PM The Enforcement Directorate (ED) has searched premises belonging to a director of Zanmai Lab - the company that runs popular cryptocurrency exchange WazirX - in Hyderabad, and ordered a freeze on its bank balance of Rs 64.67 crore, officials said today.
Whats your opinion Title: Re: Raid On Crypto Firm WazirX: "Helped Illegal Chinese Firms Divert Money" Post by: noorman0 on August 08, 2022, 06:40:51 AM Please drop the source link too in the OP.
https://www.ndtv.com/business/cryptocurrency-exchange-wazirxs-bank-balance-frozen-by-enforcement-directorate-after-searches-3227915 Quote Investigators believe Zanmai Labs -- the company that owns WazirX -- has created "a web of agreements" with companies in the US, Cayman Islands, and Singapore. The intention is to "obscure the ownership of the crypto exchange". In another source (https://www.crunchbase.com/organization/wazirx/people) mentioned WazirX has been acquired by binance and somewhat surprising they only have 4 employees including the founder which probably large operations that require more teams will not be carried out at the head office. This may be close to the accusations about the "web of agreements." Title: Re: Raid On Crypto Firm WazirX: "Helped Illegal Chinese Firms Divert Money" Post by: talkoncrypto Official on August 08, 2022, 10:19:22 AM There is so much speculations going on when we see rifts between the 2 companies, where one is claiming to be owned by other company and the parent company simply denies the claims and washing their hands off , which if proven turns out to be one of the biggest crypto scams ..
Moreover there is always a question mark on legitimacy on both exchanges ... Title: Re: Raid On Crypto Firm WazirX: "Helped Illegal Chinese Firms Divert Money" Post by: buwaytress on August 11, 2022, 10:05:25 AM I remember when WazirX was all the rage, talked about them all the time in India, the CEO probably splashed all over (C-rate) crypto media giving soundbites etc and then made such a fuss during the ban ruling saga... Binance buying them over is new to me, as is allegations that they're helping sanctioned parties (it's not specifically said but this has got to be what's meant).
But really, are we surprised? Title: Re: Raid On Crypto Firm WazirX: "Helped Illegal Chinese Firms Divert Money" Post by: Ojima-ojo on August 31, 2022, 11:32:27 PM There is so much speculations going on when we see rifts between the 2 companies, where one is claiming to be owned by other company and the parent company simply denies the claims and washing their hands off , which if proven turns out to be one of the biggest crypto scams .. The big companies have a reputation to protect and may have mistakenly accepted the deal out of ignorance and lack of adequate awareness of the crime committed by the scam exchange before the acquisition, and since it falls under the agreement between the two parties to end the deal whenever and shady act is discovered of committed during the time of the partnership.Moreover there is always a question mark on legitimacy of both exchanges ... Title: Re: Raid On Crypto Firm WazirX: "Helped Illegal Chinese Firms Divert Money" Post by: Stakefast on September 19, 2022, 08:37:24 AM Isn’t wazirx in turkey? I remember seeing something in the news about it. They have some serious regulations and I don’t think fighting this case will be easy for them.
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