The WazirX exchange operating in India was raided. The exchange in question has been under investigation for money laundering allegations for some time.
In the statement made by the Indian executive directorate, it was stated that WazirX manager Sameer Mhatre did not cooperate with the institution despite being invited many times.
In the press release, it was stated that WazirX actively assists 16 fintech companies that mediate money laundering and uses cryptocurrencies in doing so.
As part of this investigation, it was announced that all assets of WazirX, including $8.14 million in the bank, were frozen.
“WazirX did not disclose any suspicious transactions by fintech companies. He did not provide the KYC information of the accounts despite being requested. In the investigation, it was determined that Mhatre had access to the database but did not provide the information.”
Two lawsuits were filed against WazirX for violating legal regulations and using Binance to hide these transactions.
In the statement, it was claimed that some crypto money transactions between the 2 exchanges were not recorded on the blockchain and thus hidden.
After false reports in some news sources that WazirX belongs to Binance, a statement came from the CEO of Binance.
Announcement from Binance
Stating that there is false information about the relationship between Binance and WazirX, the CEO stated that Binance does not have any shares in Zanmai Labs, which manages WazirX.
Stating that it was mentioned in a blog post published in 2019 that Binance would buy WazirX, but this transaction was not completed, the CEO stated that Binance did not have a partnership other than providing a wallet solution to WazirX.
Stating that the latest allegations are also a source of concern for Binance, CZ said that they would be happy to work with the Executive Management.