Global cryptocurrency exchange Binance has openly challenged WazirX and its founder, Nischal Shetty, accusing them of misleading customers and the market about their operational relationship following a $230 million crypto hack. The allegations surfaced after Shetty’s legal team claimed during a recent townhall that Binance controlled most of WazirX’s financial operations, which impacted the company’s ability to compensate affected customers.
In a detailed blog post, Binance clarified that it has never owned, operated, or controlled WazirX at any stage, including during the July 2024 security breach. Binance’s CEO, Changpeng Zhao, reiterated a 2022 statement, asserting that Binance does not hold any equity in WazirX, contradicting an earlier 2019 announcement of Binance’s acquisition of the platform.
The hack, which targeted a WazirX multisig wallet, resulted in the theft of $230 million in crypto assets. Binance has urged WazirX’s parent company, Zanmai/Zettai, to take full responsibility and compensate the impacted users. Binance emphasized that the ongoing attempts by WazirX to link Binance to its financial responsibilities are misleading, shifting the focus away from the critical issue of user compensation.
This hack has escalated an already tense relationship between Binance and WazirX, with Binance calling for greater transparency and accountability from WazirX to ensure affected users are reimbursed.
Summary:
- Binance has accused WazirX of misleading claims regarding their relationship following a $230 million crypto hack.
- Binance reaffirmed it has never owned or operated WazirX and urged Zanmai/Zettai to compensate affected users.
- The dispute between Binance and WazirX has intensified, with Binance stressing the need for WazirX’s accountability.