‘No affiliations, unaware about purpose of transactions’, WazirX on latest ED probe

Days after the Enforcement Directorate (ED) probed WazirX, India’s largest cryptocurrency exchange, the company said that it has no affiliation with any users who indulge in illicit activities. This comes after the ED on Friday said it has seized Rs 65 crore after it found evidence against the company while investigating non-banking financial companies (NBFC) and their fintech partners indulging in predatory lending practices.

“ED appears to be investigating the transactions of certain users and Zanmai Labs (the entity operating WazirX) has no affiliation to such users and is unaware about the purpose of their transactions. Zanmai Labs is in the position of any other intermediary whose platform may have been misused,” WazirX said in a public statement.