WazirX Exposed by Singapore Court: Zettai Illegal, Zensui in Control

by

WazirX: The Great Crypto Caper Unraveled! 🤔💰

Well, gather ’round, folks, for the tale of WazirX, a crypto exchange that’s been caught with its hand in the cookie jar, and not just any cookie jar, mind you, but one filled with lies and deceit! The esteemed Supreme Court of Singapore has pulled back the curtain on this sordid affair, revealing a tangled web spun by WazirX, its partner Zettai, and a shadowy figure named Zensui, who’s apparently vacationing in Panama. 🏖️

Now, if you thought a $235 million hack last year was the worst of it, hold onto your hats! This whole mess just got a whole lot stickier for the poor souls who trusted these characters.

Votes as Real as a Three-Dollar Bill

Things took a turn for the absurd when the court declared a user vote conducted by WazirX as about as valid as a chocolate teapot. Judge Tan, with a twinkle in her eye, pointed out that users were kept in the dark, like mushrooms, while the real decisions were made behind closed doors. 🌒

What looked like a democratic process was nothing more than a well-rehearsed play, denying users the chance to make an informed choice. If it weren’t for the court’s intervention, thousands would have been led astray, while WazirX would’ve danced away scot-free. 🎭

2/
1. The Lie at the Heart of the Vote

Singapore Court found that #WazirX orchestrated a misleading user vote.

Judge Kristy Tan ruled users were not given full disclosure & couldn’t make an informed choice. The vote = invalid. A crushing blow to WazirX’s credibility.

— TOOFAAN (@TOOFAANARMY) June 16, 2025

Zettai: The Outlaw of Singapore

But wait, there’s more! The court didn’t stop there; they declared Zettai’s operations as illegal as a cat in a dog show. This company didn’t even bother to apply for a Digital Token Service Provider (DTSP) license, and their legal team had the audacity to admit they never intended to. Talk about a blatant disregard for the law! 🚫

The Mysterious Zensui of Panama

And just when you thought it couldn’t get any juicier, it turns out the real puppet master was none other than Zensui, lurking in Panama like a villain in a cheap novel. This little nugget of information was kept under wraps from both users and regulators, like a magician’s best trick. 🎩✨

The court was none too pleased with the year-long charade, calling it a waste of public resources, all to keep up a facade that was as flimsy as a house of cards.

India Compliance? What’s That? 🤷‍♂️

As if that wasn’t enough, the court also pointed out WazirX’s refusal to register with India’s Financial Intelligence Unit (FIU). It seems this company has a knack for dodging regulations like a pro! 🏃‍♂️💨

With their restructuring plan tossed out like yesterday’s leftovers, WazirX’s future is as clear as mud. They’ve announced plans to appeal, but rumor has it they’re packing their bags and heading to Panama under the Zensui banner. For millions of users, the dream of recovering lost funds is now as distant as a mirage in the desert. 🌵

Read More

2025-06-17 08:55