WazirX customers demand Binance’s statement about WazirX hack, as WazirX is revolving around bankruptcy 

WazirX customers are demanding clarity from Binance regarding its ownership of WazirX, as concerns about WazirX potentially facing bankruptcy grow. 

An anonymous Crypto X (formerly Twitter) account representing WazirX customers has pointed out that WazirX CEO Nischal Shetty mentioned Binance as the owner of WazirX platform multiple times during a recent town hall discussion. 

The X account insists that Binance should clarify whether it owns WazirX and, if so, should address the situation by ensuring customer fund safety and restructuring the platform.

#WazirX founders has repeatedly called out @binance 100 times in the last week, claiming they are the true owners of the #WazirX

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As users, we deserve a new statement from @binance to clarify this matter. If they are indeed the owners, they must take responsibility and ensure…

— Justice for WazirX Users (@IndiasCrypto) September 4, 2024

However, former Binance CEO Changpeng Zhao (CZ) previously stated that Binance had terminated all ties and partnerships with WazirX after the WazirX team failed to transfer full ownership of the exchange. Despite this, WazirX customers are calling for a new statement from Binance to determine whether WazirX leadership is misrepresenting the ownership of the platform or if other factors are at play.

Agree, but #WazirX founders are still claiming @binance own #WazirX, so a new statement is needed to shut them down.

— Justice for WazirX Users (@IndiasCrypto) September 4, 2024

WazirX fund withdrawal second phase

On September 3, 2024, the WazirX team unlocked the second phase, allowing customers to withdraw INR funds.

INR Withdrawals Phase 2 Starts Early!

Starting today, all eligible users can now withdraw up to the full 66% limit of their INR balances.

Originally scheduled for 9th September, we’ve moved this up to provide quicker access. Thank you for your continued patience and support… pic.twitter.com/6I3BA220b2

— WazirX: India Ka Bitcoin Exchange (@WazirXIndia) September 3, 2024

However, there has been no public statement regarding the withdrawal of crypto assets belonging to WazirX customers. It remains unclear whether the platform will allow these withdrawals or if they are unwilling to address the issue at this time.

Binance vs. WazirX Conflict

In 2019, Binance announced the acquisition of the WazirX crypto exchange. However, two years later, Binance’s former CEO, Changpeng Zhao (CZ), stated that the transaction was never completed because the WazirX team did not transfer complete control of the platform to Binance. 

CZ clarified that Binance only provides wallet services to WazirX, while all other controls remain under the WazirX team’s domain.

2/ On 21 Nov 2019, Binance published a blog post that it had “acquired” WazirX. This transaction was never completed. Binance has never – at any point – owned any shares of Zanmai Labs, the entity operating WazirX.

— CZ BNB (@cz_binance) August 5, 2022

Read also: Bitcoin and Ethereum Prices Plunge Amid Major ETF Outflows, Sparking Bearish Sentiment

WazirX customers demand Binance’s statement about WazirX hack, as WazirX is revolving around bankruptcy 

 

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