Leading cryptocurrency exchange Binance recently announced that it has no connection to the hack attack on WazirX, which resulted in a loss of $230 million. This declaration comes in light of ongoing discussions surrounding ownership and operational control over the WazirX platform, further complicating the relationship between the two exchanges.
Binance Denies Ownership Claims Regarding WazirX
In its statement, Binance emphasized that it has never owned, controlled, or operated WazirX. The company strongly refuted any association with the hacked wallet, insisting that the WazirX team and Nischal Shetty continue to mislead customers regarding the status of their relationship. The statement clarified, “Binance has never claimed ownership or operated WazirX, nor does it have any involvement with WazirX before, during, or after the attack.”
Call for Accountability for WazirX Users’ Losses
Binance asserted that Zanmai/Zettai should be held responsible for compensating WazirX users for their losses. The exchange noted that Zanmai registered WazirX with the Indian FIU in 2023 and that the Enforcement Directorate of India recognizes Zanmai as the owner of WazirX. This connection further complicates the ongoing disputes regarding user trust and accountability.
Binance highlighted the lack of a formal acquisition of WazirX and noted that negotiations between the two companies never reached an agreement. The statement alleged that Zettai and its affiliates continue to operate the WazirX platform and accused Shetty of making misleading claims regarding the relationship between Binance and WazirX. Binance called on the user community to critically assess the misleading statements made by Shetty, reiterating its commitment to transparency and user protection.
As trust and transparency hold significant importance in the cryptocurrency market, the ongoing dispute between Binance and WazirX serves as a reminder for users to exercise caution when selecting exchanges. Clear communication regarding ownership and responsibilities is critical for ensuring user safety and confidence in the market.
