# WazirX

> Source: https://docs.barcoder.ai/docs/wallets/wazirx
> research date 2026-06-01 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [WazirX — official](https://wazirx.com/)

## Key details

- **Launch:** 2018

## Overview
**WazirX** is **one of India's best-known cryptocurrency exchanges**, historically tied to Binance and a pioneer of peer-to-peer INR funding for Indian crypto users <sup>[1][1], [2][2], [India report](https://docs.barcoder.ai/docs/payments/IN)</sup>. It became a household crypto brand in India before suffering a major 2024 security breach that forced a restructuring.

## History
**2018 — WazirX founded** in Mumbai by Nischal Shetty, Sameer Mhatre and Siddharth Menon, pioneering a P2P engine to work around banking restrictions.
**2019 — acquired by Binance** (the scope of the acquisition later became disputed between Binance and the founders).
**2021–2023 — grows rapidly during India's crypto boom** despite a 1% TDS tax and regulatory uncertainty; registers with FIU-IND under India's anti-money-laundering rules.
**July 2024 — suffers a ~$230M hack** of its multisig wallet, one of the largest exchange breaches of the year, freezing withdrawals.
**2024–2025 — pursues a Singapore court-supervised restructuring** (via parent Zettai) and a creditor recovery/restart plan.

## Ownership & operator
**Operating entity**: **Zanmai Labs Pvt Ltd (India)** with parent **Zettai Pte Ltd (Singapore)**.
**Major shareholders**: **founders (Shetty, Mhatre, Menon)**, with **Binance** holding a disputed/limited interest.
**Regulators**: **India's Financial Intelligence Unit (FIU-IND)** registration under the PMLA; no dedicated Indian crypto regulator.

## Technical integration
Mobile and web apps with a trading API. Supports BTC, ETH and a broad token roster via crypto deposit addresses, with INR funding historically via P2P and bank rails, subject to India's 1% TDS and 30% crypto tax regime.

## Implementations & partners
**Major competitors**: [Binance](https://docs.barcoder.ai/docs/wallets/binance) (global exchange, former parent) + [CoinDCX](https://docs.barcoder.ai/docs/wallets/coindcx) (Indian exchange) + [Coinbase](https://docs.barcoder.ai/docs/wallets/coinbase) (global exchange).

## Status
**Active but rebuilding after the 2024 hack and a Singapore-supervised restructuring** <sup>[1][1], [2][2]</sup>.

## Sources

[1]: https://wazirx.com/ "WazirX — official"
[2]: https://en.wikipedia.org/wiki/WazirX "WazirX — Wikipedia"
[in-cro]: https://docs.barcoder.ai/docs/payments/IN

- [1] [WazirX — official][1]
- [2] [WazirX — Wikipedia][2]
- <sup>[India report](https://docs.barcoder.ai/docs/payments/IN)</sup> In-corpus: `reports/countries/IN-india.md`

## Source

Biography extracted from [wazirx.md](https://docs.barcoder.ai/source/wallets/wazirx). See `matrix.md` for standards-support matrix if present.