July 21, 2025
*Bitcoin: ZEB IT SERVICE PRIVATE LIMITED**
Zebpay is a bitcoin wallet provider enabled by an app, headquartered in Singapore, with an IT office located in Ahmedabad, Gujarat, India. The company was founded by Mahin Gupta in late 2012. ZEB IT Services Private Limited exchanges Bitcoin for Indian Rupees in India. We received a complaint against the company, and our team investigated the company’s documents.
We found that Zebpay is operating under the doctrine of ultra vires and TEP, and is exchanging currency in violation of RBI guidelines. We submitted our findings to the Prime Minister’s Office, the Ministry of Home Affairs, and the Ministry of Corporate Affairs.
