Zensui’s emergence is seen by many as an effort by WazirX’s leadership to escape intensifying legal and regulatory scrutiny in Singapore

Quotes that support claims

The Singapore High Court has rejected the moratorium application filed by Zettai, the parent company of crypto exchange WazirX, which sought to restructure the firm and redistribute funds to users affected by last year’s $234 million hack. Zettai also revealed to the court that in March it had opened a new firm in Panama and rebranded as Zensui.

At this point, trust in WazirX is at an all-time low. The shift to Panama under the name Zensui feels less like a business decision and more like an attempt to avoid the increasing pressure in Singapore. Without any official confirmation, no decisions can be made.