India’s FIU is probing Binance and WazirX over crypto transfers from Pakistan linked to suspected terror financing and criminal activity.
WazirX faces mounting authorized warmth as customers demand solutions on asset possession, transparency, and ₹1,284 crore in questionable transfers.
WazirX and Binance are in hassle as India’s FIU seems to be into crypto transfers from Pakistan. Authorities at the moment are monitoring pockets transactions that could be linked to unlawful or terror-related actions.
🚨 BREAKING: Simply hours after I filed a 72-page affidavit in Singapore Court docket,additionally citing #WazirX wallets being utilized in terror funding
📢The Monetary Intelligence Unit (FIU) confirms WazirX+ #Binance are beneath probe for terror-linked crypto flows from Pakistan to Jammu & Kashmir pic.twitter.com/bIryL7Rgc4
— TOOFAAN (@TOOFAANARMY) July 11, 2025
India Probes Binance, WazirX Over Crypto Transfers Linked to Pakistan
As reported by Cash Management, officers acknowledged that FIU is accumulating knowledge from Binance to determine accounts that could be receiving cryptocurrency in personal wallets from Pakistan. These wallets will not be tied to any trade, which is making it tougher to hint them. Authorities are involved that such transfers could also be linked to unlawful actions and even terror financing in India.
Each Binance and WazirX are being investigated, as they’re usually used for cross-border crypto transfers. Officers have observed an increase in crypto transactions between Jammu & Kashmir and Pakistan border areas, they usually suspect that a few of these could also be linked to terror funding.
Sarcastically, this comes after WazirX issued a PR piece defending why its dad or mum agency, Zettai, doesn’t want FIU-IND registration. Now, that very regulator is investigating them for severe cross-border dangers. All eyes are on the July 15 Singapore courtroom listening to, as the end result might resolve the way forward for WazirX and the destiny of user-held crypto.
Lately, Romy Johnson filed a 72-page affidavit within the Singapore Excessive Court docket that might resolve whether or not WazirX customers legally personal their crypto. The submitting claims WazirX wallets have been linked to ISIS-related exercise by TRX token transfers to a Syria-based entity.
Customers Demand Transparency
WazirX customers at the moment are demanding clear solutions from founder Nischal Shetty amid rising considerations over the failed restructuring and asset transparency. They’ve raised six key questions that stay unanswered.
WE WAZIRX USERS DEMAND ANSWERS, WHY IS NISCHAL SHETTY HIDING ?? 👇🏻
In mild of ongoing authorized scrutiny and excessive public curiosity surrounding the WazirX restructuring course of, we’re searching for your formal responses to the next key questions. These concern problems with asset… pic.twitter.com/1EEKYdd9ya
— Justice for WazirX Customers (@WazirXUsers) July 10, 2025
The problems embody the true possession of user-held crypto, the absence of a Proof of Reserves, undisclosed multisig pockets signatories, ₹364 crore in related-party transfers to entities linked to Shetty, and ₹920 crore in unaccounted income. Customers are calling for clear, verifiable responses.
WazirX Faces Authorized Warmth
Beforehand, WazirX suffered a serious blow as Singapore’s excessive courtroom rejected the restructuring plan of its dad or mum firm, Zettai, after the $235 million hack. The courtroom cited Zettai’s failure to reveal the creation of a Panama-based subsidiary and its choice to not get the required licenses from Sinagore and India.
WazirX can be dealing with a authorized battle for freezing customers’ unhacked crypto and fiat funds. A key affidavit by Romy Johnson claims that Zettai wrongly grouped user-owned belongings with hacked ones to push a flawed restructuring plan and violated belief legal guidelines.
With a courtroom listening to nearing, this case might form how crypto platforms deal with buyer funds sooner or later.
