Namaste Tribe!

We are thrilled to share last month’s compliance update with you, highlighting WazirX’s sustained efforts to maintain 100% compliance and security while strengthening the trust of our valued customers. 

In the month of June, WazirX sustained its initiatives of 100% compliance and security while engaging with customers. 

We continued to monitor identity details of users with the help of third party forensic tools. To authenticate trading on the platform, KYC verification was carried out thoroughly. Multiple KYC details were rejected for not meeting all criteria required to trade on the platform. This is to ensure that only users with valid identity documents are allowed to operate on the exchange to create a secure trading ecosystem.

WazirX handled over 250 requests from users, external agencies, etc. Out of these, 204 requests were from law enforcement agencies and the rest were non-legal in nature.

Our team continued to be swift in their responses, recording the average Turnaround Time for responding to requests as 20-25 minutes. WazirX ensured thorough compliance with all requests received. 

To contain prevalent scams, or any potential fraudulent activities that might affect users, the team flagged suspicious accounts on social media such as Facebook, Twitter, Instagram, Telegram, YouTube and other URLs to prevent scams or fraudulent activities impersonating official WazirX accounts. WazirX also raised awareness on engaging with its verified channels on all platforms to protect user interest. 

Thank you for being a part of the WazirX community, and we look forward to continuously delivering exceptional compliance and security measures to ensure a trusted trading experience for all.

For more detailed updates on our products and their enhancements throughout the month of June 2023, we invite you to explore our dedicated blog post here.