Indian 'Crypto King' Arrested By Narcotics Control Bureau – Not Telling Our User Wazirx

India's Narcotics Control Bureau (NCB) has arrested a Mumbai resident known as the "crypto king" who allegedly used bitcoin to purchase narcotics on the dark web. Indian cryptocurrency exchange Wazirx said the suspect was not one of its clients. 'Crypto King' Arrested in India A Mumbai resident, Makarand Pardeep Adivirkar, known as the 'crypto king' in the country's underground drug circuit, has been arrested by the Indian Narcotics Control Bureau (NCB). He allegedly used bitcoin to purchase dark web drugs shipped from Europe to India. "In November 2020, a team from NCB Mumbai received 20 LSD stains from Kharodi village in Malad," said Sameer Wankhede, director of NCB's Mumbai Division, according to local media reports. The director also said: The seized psychotropic substance was purchased from Europe using bitcoin by a Mumbai drug trafficker. “His way of working was to receive cash using his wallet used to buy drugs from the dark web and provide bitcoin at marginal profits,” NCB said. Following reports that the crypto king may have used the Indian cryptocurrency exchange Wazirx to facilitate drug purchases, the exchange has issued a statement explaining that it is not a user. Wazirx tweeted: "On June 11, 2021, Wazirx received an email from NCB containing information about the suspect and his trading activities on Wazirx. While reviewing our records, we determined that the suspect was not a Wazirx user and we forwarded this to the authorities on June 12, 2021. ” The exchange continued, “Having said that, we would like to reiterate that Wazirx follows global KYC and AML compliance best practices and has a robust transaction monitoring system. Before allowing a client to trade on Wazirx, we must ensure that every user is authenticated. We do a KYC verification as well as a secondary KYC verification via users' linked bank accounts.” Change highlighted: all of us

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