Nischal Shetty has been getting away with it on several fronts for years. • He says he is not the owner but only the CEO of #WazirX. • He says it is not his job to burn the $WRX token but #Binance , but at the same time, Mr. Shetty allows himself to give away $WRX tokens during the last big bull run of the $SHIB token since the excessively high volumes had blocked the exchange thus making users unable to resell the token. Therefore, he cannot deflate the token by doing the #burn but he can inflate it by giving away the tokens and thus causing the price to collapse. • He claims to be suing Binance and with this excuse, for almost 2 years we have not even known who the owner of WazirX is, who has to sustain the various burns (as foreseen by the white paper among other things) and who, as in this case, has to take care of compensating their users as soon as possible. Personally, I find it ridiculous that the scandal is not yet global because this gentleman who lives in luxury is illegally withholding the money of users who had placed their trust in him and "his" exchange. He has been fooling people for years, first with the failed burns on WRX (for more than three years, 4 burns per year as expected) and now with this thing, and in any case, the ones who lose out are us investors/traders. It's really ridiculous as a thing but it's the reality of the facts. If in this wonderful world made by blockchain there was a minimum of regulation, people like Nischal Shetty would already be in prison and would remain there for a long, long time!
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.