Binance Denies Responsibility for WazirX Hack
Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, Business2Community, and...
In response to accusations stemming from a devastating $235 million cyber-attack on the Indian crypto exchange WazirX, Binance publicly refuted any responsibility on September 17.
In a detailed blog post, Binance stated unequivocally that it has never been involved in WazirX’s operations.
The exchange emphasized that its 2021 acquisition agreement with WazirX was never finalized, and the company had no control over the platform before, during, or after the July 2024 WazirX hack or attack.
Binance responded after WazirX’s co-founder, Nischal Shetty, suggested Binance bore some responsibility for the platform’s security breach.
1/ FACTS about WazirX & Binance:
WazirX was acquired by Binance
Zanmai Labs is an India entity owned by me & my co-founders
Zanmai Labs has license frm Binance to operate INR-Crypto pairs in WazirX
Binance operates crypto to crypto pairs, processes crypto withdrawal…
The exchange, however, accused Shetty of issuing misleading statements to shift blame.
“The WazirX team and Nischal Shetty continue to mislead customers and the market regarding the relationship between WazirX and Binance,” the blog post stated.
Binance further challenged WazirX to take responsibility for its actions, particularly regarding user funds lost in the attack.
The blog post highlighted that the security and protection of user assets are paramount responsibilities for any cryptocurrency exchange and criticized WazirX for deflecting responsibility.
“WazirX must be held accountable for user funds lost under their management,” Binance asserted.
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