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

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.


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