Finally, the Binance team spoke about the WazirX hack incident and denied any responsibility related to WazirX or its customers.
Binance is a top-ranked crypto exchange. In late 2019, this exchange announced the acquisition of popular Indian crypto exchange WazirX, but later in late 2022, Binance confirmed that the WazirX team never completed the deal. As a result, Binance leadership decided to terminate all partnerships and relationships with WazirXâs crypto business.
As we know, WazirX is currently struggling, having been hacked two months ago, resulting in a loss of nearly half of its customersâ fundsâapproximately $235 million worth of cryptocurrencies. On multiple occasions, WazirX leadership indirectly pointed fingers at Binance as the owner, suggesting that Binance should compensate WazirX customers for their losses.
https://t.co/1di10xOCcq#WazirX CEO Nischal Shetty Accuses #Binance of Negligence Over #Hack Incident, Warns of Upcoming Exposure
â Bitcoinik (@Bitcoinikdotcom) August 27, 2024
In the latest developments, Binance responded to this matter and alleged that WazirX leadership is misleading their customers. They clarified that the Binance vs. WazirX dispute has nothing to do with the WazirX hack incident. Binance also emphasized that they do not hold any funds belonging to WazirX or its customers, and all accusations are false and misleading.
Important for WazirX users âŒïž @binance clarifies itâs stand with WazirX & Nischal.âĄïžDetailed blog posted by Binance team:âŒïž Binance never owned, operated or managed WazirX.âŒïž Binance does NOT have any funds of WazirX or users. https://t.co/MLJxH7dXLT
â CA Sonu Jain (Crypto Tax Expert) (@TheWeb3CA) September 17, 2024
Furthermore, the Binance team clarified that they tried to contact WazirX regarding the recent hack to offer assistance in tracing the hacker, but the WazirX team never responded.
Notably, Binance hinted at legal boundaries preventing them from discussing certain matters, but their latest response was aimed at providing clarification for customers on the Binance-WazirX dispute and its connection to the hack.
Reportedly, Binance will soon publish a video on this matter to provide more details, so customers can better understand the situation and stop expecting compensation from Binance in relation to the WazirX hack.
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