Binance-Owned Indian Exchange Taps TRM Labs for Anti-Fraud Management

WazirX says the partnership is a reinforcement of its commitment to detecting and preventing illicit activity.

AccessTimeIconJul 1, 2021 at 8:46 a.m. UTC
Updated Sep 14, 2021 at 1:19 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

WazirX – Binance's Indian crypto exchange – has tapped blockchain analytics provider TRM Labs to enhance its anti-fraud and anti-money laundering measures.

  • TRM Labs offers tools for wallet screening, transaction monitoring and investigations, according to an emailed statement Thursday.
  • Its monitoring capability extends to the Ethereum, Binance Smart Chain, Dogecoin, Cardano and Polygon networks among others.
  • WazirX regards the partnership as a reinforcement of its commitment to detecting and preventing illicit activity in the face of uncertainty in India about regulation of crypto assets in the future.
  • The exchange, which was acquired by Binance in 2019, says it's India's largest crypto exchange, with more than 6.5 million users and a monthly trading volume of $6.2 billion.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.