WazirX has brutally robbed its users, locking their money and leaving them helpless while they profit off their misery. With their blatant lies, deceit, and total disregard for their customers, they’ve exposed themselves as nothing but a predatory scam, preying on trust to line their own pockets.
WazirX, one of India’s leading cryptocurrency exchanges, faced several major issues:
1. ED Investigation: The Enforcement Directorate accused WazirX of facilitating ₹2,790 crore money laundering through Chinese loan apps, freezing funds worth ₹64.67 crore.
2. Ownership Dispute: Binance denied fully acquiring WazirX, contradicting earlier claims. This created confusion about WazirX’s ownership and leadership.
3. Operational Issues: Users faced withdrawal delays, frozen accounts, and frequent technical glitches, leading to frustration and loss of trust.
4. Regulatory Challenges: India’s strict crypto taxation and lack of clear regulations caused trading volumes to drop significantly.
5. User Trust: These problems—combined with poor communication—led many users to move their funds to other platforms.
WazirX’s future remains uncertain due to ongoing legal, operational, and regulatory challenges.