BENGALURU: Crypto exchange WazirX on Tuesday said that it blacklisted over 2,431 accounts before verifying transactions that were deemed unlawful. It has received 431 requests from Law Enforcement Agencies (LEA) from October 2022 to March 2023.
Of these, 46 requests were from foreign LEAs and 385 requests from Indian LEAs. Releasing its fourth Transparency Report on Tuesday, WazirX said it maintained record of 100% compliance rate for all requests received from LEA, and the requests were received against $390 million worth of transactions during this period.
Crypto exchanges have been releasing transparency reports in order to gain the trust of their users. “The transparency report is a testament to our commitment of enabling a secure and reliable crypto ecosystem for our users. We also kept up our ongoing efforts of collaborating with Law Enforcement Agencies to make crypto free of any fraudulent activities, and usher in an environment of trust,”
Rajagopal Menon, Vice President, WazirX said. The exchange has engaged in over 3,96,126 user interactions during this period. Tackling misinformation and busting misconceptions around VDA(virtual digital assets) is just one of the ways in which we can help our users make informed VDA investment decisions, it said.