WazirX’s annual report disclosed a ₹342.28 crore payment to Qizil21 Software, significantly higher than the previous year. This payment and the drop in funds to Shibuya Labs spark questions about fund management and governance, especially considering the timing before a ₹2,000 crore hack.
The Enforcement Directorate is examining WazirX for possible violations of the Companies Act and anti-money laundering laws. With investor trust shaken, the situation reflects potential internal vulnerabilities rather than just external threats.
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