Niche: Wazirx exchange began to block accounts on 20% more often – Bits Media

The General Director of the largest Indian cryptocurrency book Wazirx reported, that since October 2021 year for March 2022, the number of locks of user accounts increased by 19%.

Niche (Nischal Shetty) reported, that for six months the platform blocked 17 218 User accounts, Whereas from April to September 2021 year 14 469 accounts were frozen.

73% Blocked accounts were frozen at the request of customers, but 27% Legal Department of WAZIRX in connection with investigations, initiated by the prosecutor's office or due to disputes, concerning payments. Around 40% Frozen accounts were related to cryptocurrency pyramids or fraudulent operations, committed using the methods of social engineering.

“The vast majority of fraudulent cases are due to misinformation and insufficient awareness of users about cryptocurrencies. This indicates the need to introduce large -scale training programs, to protect the interests of traders and investors. We introduce effective methods for checking suspicious transactions ", - assured the head of Wazirx.

Over the past two years, the exchange has received 952 Request from law enforcement agencies India plus 71 The request was received from foreign law enforcement officers. All requests concerned crimes, associated with digital assets, and the exchange provided the departments with the necessary information.

Director of Public Relations Wazirx Arkhel (Aitra Sarkhel) speaks, that the trading platform "seeks to strengthen the cryptocurrency landscape of India", collaborating with educational institutions. The exchange holds training seminars for law enforcement and state bodies throughout the country, To make it easier for them to identify cases of fraud with crypto actures.

A few months ago, the niche Shtti called on local authorities not to increase the tax on cryptocurrencies, Otherwise, this will interfere with the development of the industry in India and will contribute to the outflow of specialists to other countries.