Indian crypto exchange Wazirx denies the allegations made by Binance regarding the relationship between the two crypto exchanges. Emphasizing that these are false and unsubstantiated, Wazirx emphasised that “in regards to Binance shares, we are taking the necessary steps to seek remedies and protect our legal rights.”
Wazirx States Binance’s Allegations are “false and unsubstantiated”
Wazirx posted on Tuesday that Binance’s allegations about the connection between it and Zanmai Labs, the entity reportedly responsible for managing the Indian crypto exchange, are “false” and “misleading.” The firm stated that it is pursuing a recourse.
Wazirx wrote on its website:
The accusations made by Binance in its blogpost are false and unsubstantiated. As it is more than Binance shares that are involved. We are taking steps to seek remedies and protect our rights.
The global cryptocurrency exchange accused Zanmai of creating “a series of misleading claims related to Binance’s alleged role and responsibility in the operation of the Wazirx exchange.” Binance posted on Friday, February 3: “The false and misleading narrative presented to the public misrepresented Binance as maintaining control over Wazirx user assets, user activity, and platform operations.”
Binance’s announcement followed a public dispute between the two cryptocurrency exchanges. In August last year Wazirx founding founder Nischal Shetty insisted that Wazirx is operated and owned by Binance. “Zanmai Labs has [a] Binance license to trade INR crypto pairs on Wazirx…Binance trades crypto-to-crypto pairs, processes crypto withdrawal,” he tweeted.
Wazirx Promises Customer Satisfaction
The Indian crypto exchange also reassured its customers regarding Binance’s announcement that Wazirx can no longer use Binance’s services to make wallets. Emphasizing that customers “can continue to trade, deposit and withdraw their funds as usual,” Wazirx noted:
Wazirx customers don’t need to worry about the Binance announcement. We have taken steps to ensure that Wazirx digital assets are stored in accordance to industry standards.
What do you think about the dispute between Wazirx and Binance? Please let us know in the comment section.
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