Indian crypto exchange Wazirx: The allegations made by Binance in their blog are false and unsubstantiated

Wazirx, an Indian crypto exchange, has denied the allegations made by Binance regarding their relationship. Emphasizing that the allegations “are false and unsubstantiated”, Wazirx stated that they are taking the necessary steps to seek recourse and protect their legal rights.

Binance’s accusations are related to the entity that operates Wazirx, Zanmai Labs, and include that they have made “a series of misleading claims related to Binance’s alleged role in and responsibility for operating the Wazirx exchange”.

In response, Wazirx has reassured their users that they can continue to trade, deposit, and withdraw funds as usual. They have made arrangements to ensure that users will experience no disruption or service failure due to Binance’s decision.

Wazirx also asserted that Binance’s allegations are false and misleading, and they intend to take legal action to protect their rights.

In August last year, Wazirx founder Nischal Shetty insisted that Wazirx is owned and controlled by Binance. “Zanmai Labs has a license from Binance to operate INR-crypto pairs in Wazirx … Binance operates crypto-to-crypto pairs, processes crypto withdrawal,” he tweeted.

Binance said on Friday, Feb. 3: “The false and misleading narrative put forth to the public misrepresented Binance as maintaining control over Wazirx users’ assets, user activity, and the platform’s operations.”

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like