My bet is it’s a big part IOU volume. Exit exchanges now. nostr:note145rmpj46ewkx0gy80kszqm3a3v9xf5m3amessm4zvx8gkufwz0vsrl9dqd
Discussion
In many countries ‘big part’ probably is 90%. Almost all exchanges in India won’t let you withdraw the coin in the name of AML and regulatory compliance. At the same time won’t provide any proof of balance either.
An entity WazirX related to Binance simply claimed that they have been hacked without giving any proof of hack either. Now all the funds are frozen.