All About the ‘Episode of WazirX’
The crypto market is attempting to emerge from a severe recession, but scams, hacks, and other tragedies are holding it back. A new kind of dispute has erupted on top of the price declines, layoffs, and bankruptcies that have been sweeping the market for the past three months. Also, read-Three Arrows Capital (3AC) collapse: From Billions to zero WazirX, a renowned cryptocurrency trading platform based in India, has come under scrutiny in the last few weeks. The Enforcement Directorate revealed this week that it conducted searches on one of the directors of Zanmai Labs, which owns WazirX, and issued an order to freeze bank balances totaling Rs 64.67 crore. WazirX is not just any crypto exchange in India; it is the largest exchange and one of the best things to happen in the Indian crypto ecosystem. That’s a huge blow since India is one of the countries most aggressively leading the push into crypto. It has the fastest rate of