WazirX review: licences, terms and gambling clause
Can you deposit to a casino from WazirX?
WazirX's terms, read 2026-10-09, name no gambling rule. That is not a permission: the general ban on unlawful use still applies. Its terms let it freeze or suspend an account without prior notice. No registration is confirmed in an issuing register. 7 points are not verified. 2 primary-source incidents are recorded. KYC rules: no data in this entry.
Documents last checked Reviewed by CryptoGuardz Register Desk, editorial desk
Disclosure: CryptoGuardz has no commercial relationship with WazirX, earns nothing if you open an account there, and has not contacted the company or given it notice of this entry. Every statement below is either a verbatim quote from a document WazirX publishes or a statement about a public register, and both carry the date they were read. Corrections go to the corrections page.
1. What this means for you
Consequences first, in the conditional, each one produced by a clause in a document WazirX publishes itself. Every line links to that clause, quoted in full and dated.
- Your account can be frozen without notice if WazirX decides it should be The suspension clause is discretionary and its list of grounds closes with a catch-all that swallows the list. The clause is quoted in full below.
- Your withdrawal can be suspended if WazirX decides an incident on the platform requires it The withdrawal clause sets no maximum duration and no external test for when an incident is resolved.
- You have no authority to complain to if something goes wrong, because no registration could be confirmed No authorisation claimed by WazirX was found in an issuing authority's own public register.
- You cannot tell from the terms what WazirX does about casino deposits The documents read contain no clause on gambling. The general prohibition on unlawful activity still applies.
2. What this entry records, and what it does not
This register publishes no number for an exchange. The payout score on the casino register has five defined components and a published arithmetic; no equivalent instrument exists here, and inventing one to fill the space would be a measurement nobody made. What follows instead is a field-by-field account of what was read, where it was read and when.
| Binding terms | Read in full 11 clauses captured verbatim across 7 topics, retrieved 2026-10-09 |
|---|---|
| Contracting entity | Zanmai Labs Private LimitedJurisdiction India (registered office in Bandra Kurla Complex, Mumbai, Maharashtra 400051, per the User Agreement) · no company number stated |
| Registration check | Nothing confirmed in any issuing registerESMA interim MiCA register, published CSV, read 2026-10-09 |
| Proof of reserves | No dataNo exchange-hosted disclosure page could be loaded by any route attempted. |
| Insolvency outcome | Stated in the terms Quoted in section 7 |
| Withdrawal test | Not measuredNo first-party deposit or withdrawal has been run against this exchange. It would require funding an account, which this register has not done. Until it has, nothing here is a measurement of how fast the exchange pays. |
| On-chain reserve verification | Not measuredNo independent reconstruction of the Merkle tree or of the exchange's wallet holdings has been attempted. |
3. What we could not verify
Every entry carries this section. The gaps are published because a reader deserves the limits of the check as well as its results.
- The FIU-IND registration VA00031068. The FIU-IND reporting entity list could not be read: one request returned "Request Rejected" and the home page links no list.
- The Singapore High Court judgment or sealed order sanctioning the Zettai scheme. Searches of elitigation.sg returned no Zettai judgment among the results read ([2025] SGHC 195, [2025] SGHC 214 and [2026] SGCA 28 were read and concern other companies), and the judiciary.gov.sg hearing-list link returned page not found. The sanction, vote and effective date are taken from WazirX's own posts.
- Whether the WazirX platform restarted and what share of each user's balance has been returned. Not stated in the posts read.
- The CIN of Zanmai Labs Private Limited and its record in the Ministry of Corporate Affairs register. Not read.
- Any proof of reserves. No page was retrieved.
- The networks WazirX supports for USDT withdrawals. No network list was read.
- Any enforcement action by Indian authorities concerning WazirX. None appears on the FIU-IND compliance orders page; other agencies were not searched.
4. Who you are contracting with
The counterparty named in the binding document, not the brand on the website. This is the company a claim would be brought against and whose insolvency estate a user would be a creditor of.
| Named counterparty | Zanmai Labs Private Limitedsource · retrieved 2026-10-09 |
|---|---|
| Jurisdiction of incorporation | India (registered office in Bandra Kurla Complex, Mumbai, Maharashtra 400051, per the User Agreement) |
| Company number | Not disclosedNo company number appears in the binding document, so the entity cannot be looked up in any companies register from that document alone. |
The document read is the WazirX User Agreement PDF linked as "Terms Of Use" from the WazirX help centre (support.wazirx.com). Its header reads "Last updated on October 23, 2025 Version: 1.05". It names Zanmai Labs Private Limited, "a private limited company incorporated in accordance with the laws of India", with a registered office at WeWork Enam Sambhav, Bandra Kurla Complex, Mumbai. No CIN appears in the text, so the company number is recorded as not disclosed.
Recital B of the User Agreement refers to "the ongoing dispute between Zettai Pte. Ltd. and Binance regarding the ownership of the WazirX Platform." Zettai Pte. Ltd., a Singapore company, is the entity whose scheme of arrangement the Singapore High Court sanctioned after the July 2024 hack; see incidents. Which entity held user crypto at the time of the hack was not established from a binding document in this entry.
wazirx.com/terms and wazirx.com/terms-of-use returned only page metadata and a JavaScript notice.
The WazirX Platform, the Services, and Our relationship shall be governed by the laws of Indias3.ap-south-1.amazonaws.com
5. Registrations, claimed and confirmed
No registration WazirX claims could be found in an issuing authority's own public register. That is an absence of confirmation, not evidence that a registration is invalid. No registration was confirmed in a regulator's own register. The one registration WazirX states is an FIU-IND anti-money-laundering registration, and the FIU-IND list could not be read.
| Authority | Kind | Confirmed | What it covers |
|---|---|---|---|
| Financial Intelligence Unit India (FIU-IND), reporting entity registration for virtual digital asset service providers under the Prevention of Money Laundering Act, 2002 | authorisation | no | Claimed in Recital E of the User Agreement for Zanmai Labs: "registered with the Financial Intelligence Unit (FIU) under registration number VA00031068". An FIU-IND registration is an anti-money-laundering reporting registration. It is not a licence to operate an exchange and carries no custody, capital or client-money requirement. Not confirmed: a request for an FIU-IND reporting entity list page returned "Request Rejected", and the fiuindia.gov.in home page links no list of registered entities. |
| Financial Intelligence Unit India (FIU-IND), compliance orders under section 13 of the Prevention of Money Laundering Act, 2002 | adverse listing | not listed | Negative check. The FIU-IND compliance orders page, read 9 October 2026, lists 126 orders from 2013 to 30 December 2025. The crypto businesses named on it are Coinbase India Private Limited, Bybit Fintech Limited, Binance and Peken Global Ltd. (KuCoin). None of WazirX, Zanmai or Zettai appears. |
| European Securities and Markets Authority (MiCA register of non-compliant entities) | adverse listing | not listed | Negative check. The official ESMA register of non-compliant entities providing crypto-asset services was retrieved on 9 October 2026 (173 data rows, ending with a complete row) and searched. None of WazirX, Zanmai or Zettai appears in it. |
6. Proof of reserves
No WazirX-hosted proof of reserves page could be loaded. No proof of reserves page was retrieved for this entry. Recorded as no data, not as not disclosed.
Nothing is recorded here as a result. The field is No data rather than no, because a page that would not load is not the same as a disclosure that does not exist, and this register does not publish the two as though they were.
7. Custody, segregation and insolvency
What the binding document says about where your coins sit and what happens to them if the exchange fails, quoted rather than characterised.
Zanmai holds Virtual Assets in omnibus accounts which may include its proprietary assets and assets of otherss3.ap-south-1.amazonaws.com
is under no obligation to segregate assets corresponding to Your notional balance.s3.ap-south-1.amazonaws.com
You are a contingent, unsecured creditor of Zanmais3.ap-south-1.amazonaws.com
ARE NOT HELD IN TRUST, EITHER EXPRESS, IMPLIED OR IN ANY OTHER MANNER OF TRUST WHATSOEVERs3.ap-south-1.amazonaws.com
8. Freezing your account
3 clauses, quoted in the order they appear in the document. Read the last one first: it is the ground that swallows the others.
Zanmai reserves the absolute right, at any time and without prior notice, to refuse, restrict, suspend, or terminates3.ap-south-1.amazonaws.com
During suspension, balances in the User's Account may be frozen.s3.ap-south-1.amazonaws.com
Zanmai may confiscate any remaining balances and remit them to government, regulatory, or enforcement authoritiess3.ap-south-1.amazonaws.com
9. Suspending withdrawals
suspend, restrict, delay, or refuse to process any deposit, withdrawal, order, or transactions3.ap-south-1.amazonaws.com
10. Sending funds to a casino from WazirX
WazirX's terms say nothing about gambling. The documents searched are listed below.
The User Agreement, version 1.05 of 23 October 2025, was searched for gambling, betting, gaming and casino and none of these words appears. Clause 7 mentions "contests of skill" offered by WazirX, which is not a gambling clause. The help centre home page links no gambling policy. This records the absence of a clause in these documents, not that WazirX permits transfers to casinos; its general suspension rights in clause 9.2 still apply.
11. Which networks WazirX withdraws USDT on
No dataThe network list could not be confirmed. See the note below.
No WazirX page listing USDT withdrawal networks was read for this entry. No chain is counted. Source. Which DEXes operate on each of those chains is in the DEX register.
12. Amendment, liquidation, arbitration and governing law
The clauses that decide what the contract can become, what can be done to an open position, and where a dispute would be heard.
The Terms are updated from time to time at Our sole discretion without prior notice to Yous3.ap-south-1.amazonaws.com
The seat and venue of the arbitration shall be Mumbai, India.s3.ap-south-1.amazonaws.com
13. Public record
Matters of public record, taken from primary sources and stated with them. They are not scored, because a historical event is not a measurement of how the exchange behaves today, and leaving them out while citing the sources would be worse.
WazirX's own day-wise report states: "On July 18, 2024, WazirX experienced a cyber attack targeting one of our multisig wallets", a wallet "managed using Liminal's digital asset custody and wallet infrastructure", and that the theft involved "digital assets exceeding $230 million." On 19 July 2024 WazirX "Temporarily paused deposits and withdrawals for all users to prevent further loss." and on 21 July 2024 "Temporarily paused trading on WazirX". INR withdrawals were phased back from 26 August 2024.
WazirX's blog states that "the Hon’ble High Court of Singapore has officially sanctioned the creditor-approved restructuring scheme" of Zettai Pte. Ltd., and that 95.7% of voting creditors, representing 94.6% in value, re-voted in favour of the scheme in August 2025. It states that "Within 10 business days of the Scheme becoming effective, the WazirX platform will restart". A second post states the scheme "takes effect from 15 October 2025" after the order was filed with ACRA.
14. Who should avoid WazirX
Anyone who needs an authority to complain to. No registration WazirX claims could be confirmed in an issuing register, so there is no supervisory body this register can point a user at when something goes wrong.
Related entries
Or read the whole exchange register, the same method applied to wallets and to crypto casinos, the clause library at clause watch, or how this register works.