🚫 Binance responds: We have nothing to do with WazirX's $235 million hack!
Recently, Binance clarified that they have nothing to do with the $235 million cryptocurrency hack liability allegations against WazirX.
The dispute began in July 2024, when WazirX reported that one of their multi-signature wallets was hacked, resulting in huge losses. It is reported that this wallet is jointly managed by WazirX team members and third-party custodian provider Liminal.
However, Binance made it clear in an official statement that they neither own WazirX nor operate the platform. They emphasized that Binance was not involved in the operation of the compromised wallet or security system at the time of the incident.
After the attack, WazirX faced a large number of withdrawal requests that could not be met, and its related entity Zettai Pte Ltd subsequently applied to the Singapore High Court for a suspension of repayment. In court, WazirX founder Nischal Shetty hinted that Binance may be partially responsible for the losses.
However, Binance denied the allegations and insisted that it had nothing to do with the hack or the loss of funds. They pointed out that despite previously providing wallet services to WazirX, they had later completed the removal of all funds at WazirX's request and were then fully controlled by WazirX and Liminal.
Binance also stated that although the two companies had considered a potential acquisition deal, the deal was not reached. Currently, the ownership and operation of WazirX is in the hands of local entity Zanmai. Binance also criticized WazirX and claimed that they misled customers by implying that Binance owned or controlled the platform.
🗣 Conclusion:
This incident not only triggered a discussion on how exchanges can strengthen security measures to protect user assets, but also reminded users and the community of the trust and transparency of exchanges.
In short, as legal actions unfold and the attribution of responsibilities is further clarified, this may promote progress in security and regulation across the industry.
💬 What do you think of this incident? Do you think Binance's clarification is enough to dispel doubts? Share your thoughts in the comments!
