WazirX continues to suffer from declining trust due to earlier incidents, including a Binance ownership dispute and withdrawal freezes

Quotes that support claims

The Monetary Authority of Singapore on 30 May issued a notice warning that all unlicensed exchanges operating in Singapore need to stop their services before 30 June. Given that Zettai, the parent company of WazirX, is no longer registered in Singapore or India, it may face complications in its restructuring scheme. To complicate matters further, there is an ownership conflict of WazirX between Zettai and Binance as well.

The company’s past behavior hasn’t helped its reputation either. From the ownership dispute with Binance to withdrawal issues that left users stuck for months, WazirX has built a history of controversy.