The majority of Crypto X users with funds on the WazirX crypto exchange asked Changpeng Zhao (CZ) to intervene in the ongoing WazirX vs. Binance dispute.
WazirX was once a popular crypto exchange in India. 3.5 months ago, the exchange was hacked, losing more than 50% of customers’ funds. Since the hack, the exchange’s services have been suspended. Amid this financial struggle, the Binance vs. WazirX dispute has intensified, with WazirX CEO Nischal Shetty addressing the issue several times in town hall discussions.
On 31 Oct 2024, Binance’s former CEO CZ extended Diwali greetings to Indian crypto investors, which received significant attention.
दीपावलिः अन्धकारस्य नाशाय, ज्ञानस्य विकासाय च अस्तु। सर्वेभ्यः दीपोत्सवस्य शुभाशयाः, यः ह्रदयेषु सुख, शांति, सौहार्दं च प्रकाशयतु।May this Diwali dispel darkness and bring forth the light of knowledge. Wishing everyone a joyous festival of lights that illuminates hearts with…
— CZ 🔶 BNB (@cz_binance) October 31, 2024
Many WazirX customers requested CZ to address the WazirX vs. Binance dispute over exchange ownership and urged him to resolve the matter as soon as possible.
How can we bring forth the light of knowledge, sir, when everything about #WazirX and @binance remains so confidential?@cz_binance https://t.co/NiTW6kozCT
— Justice for WazirX Users (@IndiasCrypto) November 1, 2024
They asked CZ to at least provide some insight into the dispute, questioning why it has taken so long to resolve and why Binance froze WazirX’s $17 million.
Dear @cz_binance, I hope you're well, Sir. Could you please clarify why @binance hasn’t released the $17M that #WazirX says is illiquid? I trust Binance more, but I’m struggling to understand why these funds are inaccessible. Since you were the CEO when this issue arose, could…
— Justice for WazirX Users (@IndiasCrypto) November 1, 2024
With this growing pressure on Binance’s CZ, it will be interesting to see what steps he may take in favor of WazirX customers. Once WazirX was a property of Binance, and there still seems to be a deep connection, prolonging the dispute.
WazirX Hacker Activity
According to an investigation by the crypto transaction tracking platform Crystal Intelligence, the WazirX hacker successfully laundered all the stolen funds and converted them into Bitcoin.
WazirX hacker has largely converted ETH to BTC after using Tornado Cash via Thorchain.Thank you @CrystalPlatform for tracking the #WazirX hacker 🙏 pic.twitter.com/27VfkudceA
— Justice for WazirX Users (@IndiasCrypto) November 1, 2024
Currently, there is little chance for WazirX leadership to recover the hacked funds unless the hacker shows any willingness. Some Indian enforcement agencies are looking into the matter to identify the main culprit and hacker involved.
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