Some new evidence shows WazirX exchange taking help from Binance for fund management and speculations are giving strong backing to this evidence. WazirX customers are calling the WazirX’s CEO a superhero.

As we know, four months ago, the crypto exchange was hacked & and nearly half of its funds were hacked, probably by the popular Korean hacking group Lazarus. Today, the WazirX team confirmed they transferred (probably traded in the market) WazirX customer’s funds to rebalance the hacked funds.

Read this full report to know know the crypto traders are now bullish on the $WRX token and what can be positive outcomes for #Wazirx #WazirX_Hack customers https://t.co/tb376kV69E

— Bitcoinik (@Bitcoinikdotcom) December 13, 2024

All those people who were criticising & abusing WazirX CEO Nischal Shetty for the hacking incident are now appreciating him as a superhero & saviour.

Nischal, you are our hero!Your hard work, commitment, and passion for crypto and supporting #WazirX victims are unmatched. You will rise like a dragon.Bhai, can you please answer my question now? https://t.co/CpdVcr8c47

— Justice for WazirX Users (@IndiasCrypto) December 13, 2024

However, many people called WazirX’s fund rebalancing activity unethical & illegal, but the majority of the people appreciated this move, as it is going to compensate the customers 100%.

Potential Binance’s involvement

However, so far, neither Binance leadership nor WazirX leadership has talked about the involvement of Binance exchange in this matter, but many people speculated that Binance is deeply engaged & soon or later, the official information will come into the public domain.

On 12 Dec, a Crypto X user reported his findings on the on-chain relationship between Binance & WazirX and provided evidence that Binance’s wallets have been used by the Wazirx team to transfer a very large amount of funds.

Has Binance Stepped In? $230M WazirX Hack Reimbursement LikelyIn July '24, @WazirXIndia lost $230M+ to a suspected Lazarus Group hack (cf @zachxbt). For months, silence. But today’s on-chain moves suggest a 95%+ chance they’re preparing to reimburse victims—likely announced in… https://t.co/cMAR1sUeNK pic.twitter.com/LLjhc60wP1

— 0xLouisT (@0xLouisT) December 12, 2024

A WazirX customer also shared his parallel analysis along with this finding & urged the Binance CEO Richard Teng to confirm whether all this evidence is proof that Binance is there to rescue the WazirX exchange.

Dear @_RichardTeng can you please confirm or deny this information 🙏 Indian Crypto Community awaits for your answer! #Binance #Wazirx Will @Binance help #Wazirx users ? I know, if if @cz_binance was reading this he would never make users suffer!

— Romy Johnson (@TOOOFAANN) December 12, 2024

Read also: Rumours suggest Binance or another crypto exchange coming to rescue WazirX

$BTC

Bitcoin has again some kind of liquidity move while trying to breakout from the 100K resistance zone.

We are seeing that this zone is full of unclarity and the best thing to do is just to wait for a clean breakout or breadown from this zone to see where we will go next.

Overall, Bitcoin has been in consolidation for some time now so we might see some very sharp moves soon!!
#BTC☀ #BTC500K #btcupdates2024 #BTCReclaims101K #BitcoinKeyZone

As per some crypto influencers, a few crypto companies are in talks to acquire & rescue the WazirX crypto exchange.

WazirX, a well-known crypto trading platform in the jurisdiction of India that has been unavailable to provide services for the last 4 months, is currently in big trouble. The leadership of this exchange has been doing their best to bring the services back to line but is bound by multiple legal boundaries & lacks fund liquidity.

On 13 Dec 2024, A popular Indian crypto influencer, Kashif Raza, who has expertise in Indian laws, said that Binance or some other crypto exchange is reportedly planning to rescue the WazirX crypto exchange.

Kashif also said that such information might be inaccurate & false. He noted that, currently some rumours also suggested that WazirX co-founder & other leaders were planning to sell their WazirX stakes in good amounts to exit from all these hurdles.

There are rumors that Binance or someone else is coming for WazirX rescue. True or False, I do not know.The probability of this happening is very low because there are rumors that the founding team of WazirX is asking for a considerable exit amount.

— Kashif Raza (@simplykashif) December 13, 2024

Some crypto X (formerly Twitter) users said that they don’t think that Binance can show interest because the relationship between Binance & WazirX has a bad history.

Earlier, many rumours came to the public domain regarding WazirX, but WazirX CEO Nischal Shetty never talked about such rumours. Even once he called Binance as a responsible exchange behind the bad financial position. Reportedly Binance exchange used all WazirX’s earnings for promotional activities of the Binance crypto empire, but later, Binance’s team dismissed all such allegations.

As per multiple reports, Binance currently holds $17 million worth of cryptocurrencies belonging to the WazirX crypto exchange. Currently, the legal battle between both exchanges is active in a court in Singapore related to these funds & another contract breach.

However, many WazirX customers asked Binance’s former CEO, Changpeng Zhao (CZ), to interfere in this matter, but CZ indirectly refused to help.

https://t.co/8QQ2IygBbs#Crypto Hater #SEC Chair Gary #Gensler Indirectly Confirms His Resignation

— Bitcoinik (@Bitcoinikdotcom) November 15, 2024

Read also: WazirX Trades Customer Assets Without Consent – But It’s a Positive Twist!