In a dramatic turn of events, representatives of WazirX customers are urging the leading crypto exchange, Binance, to release frozen funds belonging to the Indian crypto platform, WazirX.
Claims circulating on the X social media platform suggest that Binance is holding $260 million worth of crypto assets linked to WazirX‘s management.
Although no direct evidence has surfaced online to validate this claim, a Crypto X user representing WazirX customers seeking compensation for losses from a $235 million hacking incident insists that Binance is responsible for compensating WazirX users.
According to this user, WazirX was always backed with a 1:1 reserve, even after the hack, and argues that Binance should release these funds directly to the WazirX customers.
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Binance vs WazirX: The Battle for Accountability
Following the hacking incident, WazirX CEO Nischal Shetty pointed fingers at Binance, implying that Binance, as WazirX’s owner, should take responsibility for compensating customers. However, Shetty faced criticism for allegedly misleading customers and distancing himself from the matter by blaming Binance.
Recently, Binance released an official statement denying any ownership of WazirX and asserting that the legal dispute between the two has no connection to the hacking incident. Binance further clarified that it holds no funds belonging to WazirX users and criticized WazirX for not seeking assistance from Binance after the hack, implying an ego-driven approach.
Crypto Community vs WazirX Supporters
These days, crypto X users are criticizing digital influencers who promoted crypto platforms that later collapsed.
Recently, popular Indian financial expert and YouTuber Ankur Warikoo was slammed by crypto X users for promoting WazirX and Vauld crypto platforms.
Read also: BlackRock CEO says “Bitcoin is a legitimate financial instrument”
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https://bitcoinik.com/wazirx-users-demand-binance-return-wazirx-managements-frozen-funds-amid-ongoing-dispute-struggling-phase/feed/
