Indian crypto exchange Wazirx calls Binance’s allegations ‘false and baseless’ – seeks support

Wazirx on Tuesday asserted that the allegations by the definitively leading crypto exchange regarding its ties with Zanmai Labs, the entity allegedly operating the Indian crypto exchange, are “false” and “misleading”. It has been said by the company that it is seeking recourse and accordingly the Indian crypto exchange company writes on its website that the allegations made by Binance in the blog are definitely false and baseless and the operations of the crypto exchange are concerned. If so, we are taking necessary steps and going with necessary steps to protect our legal rights to have recourse thereto. Indeed, the global crypto exchange has accused Zanmai of “making a series of yes friendly claims relating to the role and responsibility of the leading crypto exchange for the operation of the Wazirx exchange”. Accordingly, leading crypto exchange Binance said on Friday, February 3, that: “A false and misleading story has been presented to the public and in which Binance has to forfeit all Wazirx users’ assets, user activity and all operations related to the platform.” The announcement by the leading crypto exchange comes after the appearance of a public dispute between the two crypto exchanges in which, in August last year, Wazirx It was emphasised by founder Nischal Shetty that our company is indisputably owned and controlled by Binance. “Zanmai Labs has [a] license from Binance to operate the INR crypto token in WazirX… whereas… It operates crypto-to-crypto pairs as well as processes crypto withdrawals and the Indian crypto exchange has also been ensuring its users regarding the announcement of Binance and has been ensuring that you will certainly cannot use Binance’s wallet services and emphasizes that users can and are able to continue trading and withdrawing and depositing their funds as usual. Also Indian crypto exchange adds and says that Wazirx users need not be worried about Binance announcement at all and we can try and make sure that or you Notifies that an arrangement has been made for Wazirx’s digital assets to be stored in accordance with industry-leading standards.



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