WazirX deems Binance allegations ‘false’ and ‘unsubstantiated’ WazirX deems Binance allegations ‘false’ and ‘unsubstantiated’
WazirX said it was taking the necessary steps to seek recourse and protect its legal rights against the actions taken by Binance.
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Updated: Feb. 7, 2023 at 11:25 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
India-based crypto exchange WazirX said Binance’s allegations against it are “false” and “unsubstantiated,” according to a Feb. 7 statement.
The exchange added that it was taking the necessary steps to seek recourse and protect its legal rights against the actions taken by Binance.
WazirX also allayed users’ fears about their funds. The exchange said:
“WazirX users do not have to be concerned about Binanceโs announcement. We have made arrangements to ensure that WazirXโs digital assets are stored in accordance with industry-leading standards.”
Binance and WazirX’s operator Zanmai Labs have been engaged in a public spat over who owns the exchange since last year.
While Binance and its CEO ย Changpengย Zhao “CZ” have repeatedly maintained that they have no control over the Indian exchange’s operations and its users’ assets, WazirX co-founder Nischal Shetty said that Binance acquired and owned the exchange.
The disagreements culminated in Binance terminating its wallet services to WazirX on Feb. 3. The Indian exchange later transferred its assets to multi-sig wallets.
Binance was yet to respond to CryptoSlate’s request for comment as of press time.
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WazirX
WazirX is an India-based cryptocurrency exchange with an advanced trading interface and features to Buy, Sell & Trade cryptocurrencies.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Nischal Shetty is the founder and CEO of India’s leading cryptocurrency exchange WazirX.
Changpeng Zhao, popularly known as “CZ,” is a notable figure in the cryptocurrency world, primarily for founding and leading Binance, the world’s leading cryptocurrency exchange by trading volume.