Mudrex vs Binance.

Facts side by side for Indian users. Not a rating or a recommendation. Last checked November 2026.

Mudrex Binance

Registered with FIU-INDYesYes

Crypto withdrawalsYesReported as allowed.YesAllowed; paused temporarily during the October 2026 incident.

INR depositsUPI and bank transferMainly through P2P, which carries account-freeze risk

Proof of reservesNot verifiedNot verified

Incidents on recordNone listed1 reported

Coins listedNot trackedNot tracked

Mudrex: incidents and reports

No incidents on our board.

User reports: Wide gap between USDT buy and sell prices.

Binance: incidents and reports

Oct 2026. About $6.3B stolen, the largest crypto hack on record; Binance said it would cover user losses.

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Questions

Is Mudrex or Binance safer?

Neither is "safe" in absolute terms. Compare the facts above: FIU-IND registration, whether you can withdraw crypto to your own wallet, and past incidents. Whichever you use, keep only what you trade on the exchange and turn on two-factor authentication.

Do Mudrex and Binance deduct 1% TDS?

Exchanges registered with FIU-IND and serving Indian users are expected to deduct 1% TDS on crypto sales. Check your AIS on the income tax portal to confirm what was deducted under your PAN, and claim it in your ITR.

Can I use both Mudrex and Binance?

Yes. Many people use more than one exchange. For tax, report trades from every exchange in Schedule VDA and match the TDS in your AIS.

Educational only, not a recommendation. Facts come from the exchanges and reliable reporting; check the app before you act. Read how to choose an exchange.