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.

Jul 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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