**Binance Responds to Dispute with WazirX Parent Company Zanmai: Denies Acquisition and Responsibility**

**Background:**

On July 18, 2024, unusual transfers from the wallet of the Indian exchange WazirX were detected, revealing that the exchange had been hacked. The breach was traced to a compromised multi-signature ETH hot wallet.

**Dispute over Responsibility:**

WazirX and Liminal Custody, the custodians of the stolen funds, are blaming each other. The compromised wallet had five signers from the WazirX team and one from Liminal, a third-party service hired by WazirX. WazirX claims the attack involved Liminal's multi-signature wallet and points to discrepancies between Liminal’s data and actual transactions. Liminal, however, says its infrastructure was secure and all wallets, including WazirX's, remained safe.

**Binance Denies Responsibility:**

Binance addressed the situation in a blog post, noting that WazirX reported the cyberattack on July 18, 2024, which resulted in a loss of about $235 million and halted withdrawal requests. Binance criticized Nischal Shetty, a primary owner of Zanmai, for making incorrect claims about Binance’s responsibility for WazirX’s losses. Binance clarified that it never completed the acquisition of WazirX, despite signing an agreement, and has never owned, controlled, or operated WazirX. The company emphasized it does not hold any WazirX user funds and is not responsible for the impact of the cyberattack. Shetty’s statements were described as misleading. Although Binance had announced an acquisition in 2019, it was later denied in 2022, with Binance's founder stating the deal was never completed.#Write2Earn! #wazirX #Write2Earn! #wazirX #Write2Earn!