Trouble for WazirX, Drug trade !! company says.. - YP Buzz

 YP Buzz -

                    Cryptocurrency Exchange WazirX, accused of aiding the drug trade in Vice's report, said on June 18 that the person operating the drug product was not using its platform, which added to the list of disputes caused by Binance's small trade.

                                                                        

WazirX

A report from the Deputy President on June 17 stated that Makarand Pardeep Adivirkar, known as India's underground drug channel as the "Crypto King" was paying for drugs on the black web using bitcoin, WazirX and other platforms. "Officials say Adivirkar's drug transfer program has been going on for more than two years, but only when NCB, India's official drug company, seized 20 bottles of LSD in India in November 2020," the report said. Adivikar is accused of smuggling and helping other traffickers smuggle LSD, ecstasy, hydroponic weed and methamphetamine (meth) from Europe to India. WazirX however denies that Adivirkar uses its own platform.

"The NCB questioned WazirX about the alleged defendant and his commercial activity on June 11, 2021. When we checked our records, we found that the defendant was not using WazirX, we spoke to the authorities on June 12, 2021," he said.“As we have claimed that we perform strict KYC verification for every user to verify your identity and then perform a second KYC verification using connected bank accounts before allowing the customer to interact with WazirX. We only allow KYC-certified and official accounts to authorize money on our exchange, ”he added

India has seen record levels of computer use over the past six months, which has greatly benefited WazirX and other exchanges, as the legitimacy of crypto is unknown in India to date.


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 YP Buzz

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