Costs, licensing, consumer protection Privacy, self-custody, censorship resistance
C D Regional Crypto Exchanges

WazirX

WazirX

Zettai Pte Ltd (Singapore) / Zanmai Labs Pvt Ltd (India)

Status
Private company
Legal HQ
India
Founded
2017
Corporate site
wazirx.com

Zettai Pte Ltd (Singapore, incorporated Jan 2019) holds crypto custody; Zanmai Labs Pvt Ltd (India, 2017) handles INR fiat operations and is FIU-India registered. July 2024 hack ~$230M (Lazarus Group/North Korea suspected) via Liminal Custody multi-sig wallet exploit. Restructuring scheme sanctioned by Singapore High Court on 13 Oct 2024 (Sec. 64 IRDA 2018); >95% of creditors in favour, ~$206.9M validated claims from 149,000+ account holders. Ownership dispute with Binance in litigation.
3.0/5 1.2/5 · Data verified on

WazirX is one of India's leading exchanges, with over 16 million users and registration with FIU-India. It remains marked, however, by the record $235M hack of July 2024, attributed to the Lazarus Group: recovery is only partial and user compensation is still ongoing.

31
Transparency: Very low
31/100 · see methodology
31
Data exposure: Minimal
31/100 · lower is better for sovereignty · methodology

Data & conditions

Maker / Taker fee 0.2% / 0.2%
Markets Spot
Max leverage 1×
Supported assets 250+
Trading pairs 200+
24h volume $271.35K
Fiat on-ramp Yes
Deposit methods Bank transfer (IMPS/NEFT/RTGS) INR, P2P (USDT/INR), Crypto deposit
Geo restrictions USA
Fund custody Custodial (platform holds funds)
KYC Full
Supported countries APAC · 1+ countries
Regulator FIU-India
OAM Italy registration No
Segment B2C
MiCA / License status VASP / FIU-India FIU-India registrato

Strengths

  • 16M+ users India; hack $235M in gestione; FIU-India registered.
  • No notable sovereignty advantage documented.

Weaknesses

  • Hack record $235M 2024; clearing users not complete.
  • Custodial: the platform holds your funds and can freeze or lose them.
  • Full KYC required: verified identity, zero pseudonymity.
  • Subject to regulation (FIU-India registrato): reporting to authorities and freezes on order.
  • Geographic restrictions (USA).

Verdict

C D ★ 3.0/5 ★ 1.2/5

WazirX is one of India's leading exchanges, with over 16 million users and registration with FIU-India. It remains marked, however, by the record $235M hack of July 2024, attributed to the Lazarus Group: recovery is only partial and user compensation is still ongoing.

Privacy & anonymity 30% 0.8
Fund control 20% 0.0
Censorship resistance 20% 2.3
Costs 10% 3.0

Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.

"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.

FAQ

What are WazirX's fees?

WazirX's spot fees vary by tier; check the official fee schedule.

Is WazirX regulated in Europe?

Regulatory status of WazirX: FIU-India registrato.

Does WazirX publish Proof of Reserves?

Proof of Reserves publication is not documented for WazirX. No third-party reserve audit is documented. Reserve transparency is a critical factor after the FTX collapse.

Can I send transfers to third-party IBANs from WazirX?

No, WazirX is an exchange and does not allow transfers to third-party IBANs: fiat withdrawals return to a bank account in your own name.

Does WazirX support derivatives and futures?

WazirX does not offer derivatives: it focuses on spot trading.

Sources

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Update history

✓ Terms unchanged since Jun 1, 2026

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