Indian crypto exchange Wazirx has denied Binance’s claims regarding the relationship between the two crypto exchanges. Emphasizing that the allegations “are false and unfounded,” Wazirx stressed. “With respect to Binance’s actions, we are taking the necessary steps to seek redress and protect our legal rights.”
Wazirx Says Binance’s Accusations Are “False and Unfounded”
Wazirx said Tuesday that Binance’s claims about its relationship with Zanmai Labs, allegedly the entity that operates the Indian crypto exchange, are “false” and “misleading.” The company added that it was seeking a remedy.
Wazirx wrote on his website:
The claims made by Binance on its blog are false and unsubstantiated. With respect to Binance actions, we are taking steps to seek redress and protect our legal rights.
The global cryptocurrency exchange accused Zanmai of making “a series of misleading allegations related to Binance’s alleged role and responsibility in operating the Wazirx exchange.” Binance said on Friday, February 3, “The false and misleading narrative presented to the public has misrepresented Binance as retaining control over Wazirx user assets, user activity, and platform operations.”
Binance’s announcement follows a public dispute between the two crypto exchanges. In August last year, Wazirx founder Nischal Shetty insisted that Wazirx was owned and controlled by Binance. “Zanmai Labs has (a) license from Binance to mine INR-crypto pairs in Wazirx… Binance mines crypto-crypto pairs, processes crypto withdrawal,” he said. tweeted.
Wazirx assures users
The Indian crypto exchange also assured its users regarding Binance’s announcement that Wazirx can no longer use Binance wallet services. Emphasizing that users “can continue to trade, deposit and withdraw their funds as usual”, Wazirx pointed out:
Wazirx users need not worry about Binance’s announcement. We have taken steps to ensure that Wazirx digital assets are stored in accordance with industry leading standards.
What do you think of the dispute between Wazirx and Binance? Let us know in the comments section below.
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