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One of the largest crypto exchanges of India, WazirX was recently all over the news for all the wrong reasons. As per the GST department of the Mumbai zone, an investigation was led against WazirX to look into its accounts where it had spotted an alarming tax discrepancy of about Rs 40.5 crore. Well, the issue was settled immediately as WazirX quickly cleared the outstanding tax along with the penalties which rounded up to a…

India’s most popular cryptocurrency exchange WazirX has burned 14,453,332 WRX to date (roughly over $55 Million USD), wherein the 4th Quarterly Burn event, a total of 3,753,333 WRX equivalent to Rs 112 Crore of $14 Million were removed from supply on 15th April 2021. The burn event was done in 5 parts, with the following transaction ID’s Part 1: 333 WRX burned. TXID herePart 2: 3000 WRX burned. TXID herePart 3: 1,000,000 WRX burned. TXID herePart 4: 1,250,000…

Before starting out this article, let me introduce you to one of the videos which I made today, If you understand Hindi, then do watch this video for a better understanding of this article. https://www.youtube.com/watch?v=qFa-ouLRIuQ Let’s start by first introducing you all to WRX token and why it’s rising in price. WRX is the utility token of WazirX Exchange. It’s based on the Binance Blockchain and its total supply is 1 billion. However, out of…