All posts tagged: mudrex

Bharat Web3 Association to Host Web3 Cybersecurity Workshop in Bengaluru on May 8

Bharat Web3 Association to Host Web3 Cybersecurity Workshop in Bengaluru on May 8

Published by Webster

The Bharat Web3 Association (BWA) has announced a cybersecurity workshop that will be conducted in Bengaluru on May 8. During the upcoming event, the BWA will discuss security challenges related to crypto exchanges and wallets. Representatives from multiple crypto firms like Coinbase and Bitgo have been listed as speakers for this workshop. The BWA is aiming to prepare Indian Web3 firms to deal with the sophisticated hacking and scamming methods used by malicious actors to target the $3 trillion (roughly Rs. 2,52,75,450 crore) industry. CoinDCX CISO Sridhar Govardhan is one of the speakers scheduled to discuss the lessons that can be learnt from recent breaches that impacted the Web3 space. Other representatives from companies like CoinSwitch and Mudrex are also slated to speak at the workshop, Chenoy told Gadgets 360. Muralidharan Sundaramurthy, Head of Technology Risk and Security Compliance, APAC, Coinbase and Barath Jawahar, Director of Engineering, BitGo are slated to talk about the risks for Web3 projects around third-party integrations and cloud security. Marc Krisjanous, a senior committee member from the CryptoCurrency Security Standard …

FIU-IND Reportedly Sets June 30 Deadline for Crypto Exchanges to Redo KYC Verification

FIU-IND Reportedly Sets June 30 Deadline for Crypto Exchanges to Redo KYC Verification

Published by Webster

The Financial Intelligence Unit of India (FIU-IND) has reportedly instructed all crypto exchanges to verify the know your customer (KYC) data collected from users based in India, by the end of June. The KYC details that are older than 18 months will need to be refreshed by all operational exchanges. Mudrex and Pi42 confirmed the development to Gadgets 360 on Friday. The aim of this step is to maintain accurate details of crypto holders, while also identifying the flouters of the national crypto tax laws. The FIU has observed that many crypto users as well as exchanges are neglecting the one percent TDS deduction law on crypto transactions, The Economic Times reported, citing anonymous sources. The agency now plans to tighten its oversight over crypto activities. Bharat Web3 Association (BWA), which is an independent crypto advisory body based in New Delhi, said this directive underscores India’s push for regulatory accountability in the Virtual Digital Assets (VDA) space. “The FIU-IND has directed all registered VDA exchanges to enhance KYC compliance by June 30, 2025, under the …

Mudrex Halts Crypto Withdrawals Till January 28 Amid Efforts to Automate User Verification System

Mudrex Halts Crypto Withdrawals Till January 28 Amid Efforts to Automate User Verification System

Published by Webster

Mudrex is seeking additional KYC details for users initiating crypto withdrawals, and the crypto investment firm has halted crypto withdrawals for the next couple of weeks as part of an ongoing upgrade to its ‘compliance suite’. The platform informed users about pause on withdrawals through via emails over the weekend. The company also posted a blog post about the issue on Sunday. The development stirred concerns amid Mudrex’s user base, about the safety of their crypto deposits. The platform, however, has stated that all deposits will be secure during this ongoing process. Mudrex Says Upgrade Will Automate and Streamlining Verification This is the first upgrade that Mudrex is processing for its KYC procedure related to crypto withdrawals. Alankar Sexena, Co-founder and CTO at Mudrex had posted about the development on X (formerly Twitter) on January 13. Speaking to Gadgets 360, he said users need not worry about their funds’ safety and that their assets are completely safe. “This particular upgrade is focused on automating and streamlining verification for faster and more reliable withdrawals. We’ve been …

Delhi High Court Orders Removal of Scam Sites Impersonating Crypto Firm Mudrex

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The Delhi High Court, in a judgment passed on August 23, has ordered the Ministry of Communitions to remove 38 websites impersonating an Indian crypto investment firm within a week’s time. Last week, Mudrex filed a petition with the Delhi High Court seeking action against fraudulent websites after its users reported falling victim to scams. The development comes against the backdrop of a rapid escalation in scams and hacks targeting the crypto community around the world. The official page of the Delhi High Court order portal published the directive on August 23. Justice Mini Pushkarna issued the order to the Ministry of Communications, directing it to remove the questionable websites by August 30. Gadgets360 is awaiting a response from the ministry on whether it plans on addressing the spread of fraudulent websites on popular search engines from Google and Microsoft. Mudrex had submitted evidence of its names and other marks being used extensively by fake websites to interact with users across the country. The impersonators are also running their own businesses under the pretense of …

Mudrex Opens BTC ETF Investments for Indians with Minimum Commitment of $5,000

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Members of India’s crypto community can now invest in spot Bitcoin ETFs (exchange-traded funds) through Mudrex. The Indian crypto investment platform announced the roll-out of this service on its app on Monday, March 11. Both, retail as well as institutional investors will be able to use this service to engage with Bitcoin trading without having to create an account on an exchange and purchase the cryptocurrency. Ever since BTC ETFs were approved in the US this January, the cryptocurrency has seen a massive inflow of capital from investors. ETFs track the value of the underlaying asset, and they trade on traditional market exchanges rather than crypto exchanges. This lets people engage with Bitcoin without having to register with a crypto platform. Mudrex, in its announcement said, it decided to bring this service to the platform after seeing repeated demands from its users. The minimum amount for people to start investing in BTC ETFs on Mudrex stands at $5,000 (roughly Rs. 4.13 lakh) whereas the maximum amount could be $250,000 (roughly Rs. 2 crore). While this …

India’s IITians, ISBians Join Mudrex’s Student Web3 Community WAGMI

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The students from some of India’s top colleges and universities have chimed in with a Web3-focussed initiative, launched by Mudrex. The crypto investment platform is having Indian students participate in Web3 projects, trivia, and panel discussions with industry experts — to give them an in-depth sense of the next-gen tech sector. Mudrex has named this initiative ‘WAGMI’, which is a popular buzz word in the crypto community and expands to ‘We Are Going to Make It’. A total of 15 student clubs from 20 prestigious institutes have joined hands with Mudrex to participate in the WAGMI project. Colleges like IITs, ISB, and NITs are among other institutes from Delhi, Madras, Kanpur and Roorkee to be part of the project. “Web3 is all about communities, WAGMI is a platform for many future unicorns by combining the best talents in India,” said Ashrith Reddy, a WAGMI contributor from ISB, Hyderabad. Touted as the future of the 2D Internet we know and use today, Web3 does not depend entirely on centralised servers. On the contrary, Web3 is largely …