Is WazirX safe? Licences, account freezes and incidents
Is WazirX safe?
The one licence WazirX claims was not found in an issuing authority's own register. Its terms let it freeze, suspend or close an account, without prior notice. Its terms, as read, name no gambling rule. 2 primary-source incidents are recorded, dated 2024-07-18 and 2025-10-13.
Documents last checked Reviewed by CryptoGuardz Register Desk, editorial desk
Disclosure: CryptoGuardz has no commercial relationship with WazirX and earns nothing if you open an account there. Every statement below is read from a document WazirX publishes or from a public register, and each carries the date it was read. Corrections go to the corrections page.
WazirX review: the documents
This is a review of the documents WazirX publishes and of the registers that should list it, not a test of the platform: no account was funded and no withdrawal was run. The binding terms name Zanmai Labs Private Limited as the company you contract with, in India (registered office in Bandra Kurla Complex, Mumbai, Maharashtra 400051, per the User Agreement). The record quotes 11 clauses across 7 topics, read 2026-10-09, from 14 sources. The one licence WazirX claims was not found in an issuing authority's own register. 1 further licence it claims was not confirmed in any register. Its proof-of-reserves page could not be loaded, so that field is no data. The terms carry a clause on what happens to customer assets if the company fails, quoted below. Its terms, as read, name no gambling rule. 7 points could not be verified and are listed below.
Is my crypto safe on WazirX?
WazirX is a custodial exchange: coins on the account are held by the exchange, not by a key you control. What protects them is what the binding terms say about holding customer assets and about the company failing. 2 clauses on holding customer assets are quoted below.
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
Insolvency and bankruptcy language in the terms, verbatim:
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
Can WazirX freeze my account?
Yes, by its terms. The 3 clauses are quoted as written, followed by the clause on suspending withdrawals.
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
suspend, restrict, delay, or refuse to process any deposit, withdrawal, order, or transactions3.ap-south-1.amazonaws.com
The documents searched name no gambling rule; the general ban on unlawful use still applies. The full reading is in section 10 of the review.
Has WazirX been hacked or fined?
2 matters are recorded, each from the primary source linked beside it. The descriptions are the record’s, with the date. Other events may exist that no primary source in this collection confirms, so this list is not proof that there are no others.
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.
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 support and scams
The official domain in the record is wazirx.com. Type it yourself rather than following a link from an ad, a search result or a message, and reach support only from inside the account you signed in to there.
Real support never asks for a seed phrase or for remote access to your device. An exchange account is opened with a login, not a recovery phrase, so a request for one is a request for a wallet you hold elsewhere. A request to install a screen-sharing or remote-desktop app hands the caller your signed-in session. Either one ends the conversation.
If money has already gone, the next message offering to get it back is the commonest second loss. The FBI, the FTC, the CFTC and the UK FCA have each published warnings about it, quoted on crypto scam recovery: what is real.
What we could not verify
The gaps in this record, as the record states them. A point listed here was looked for and not confirmed; it is neither a finding for WazirX nor against it.
- 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.