WazirX Moves Funds After Binance Cuts Off Service
Indian crypto exchange WazirX said it was transferring funds held with Binance for its operations to other wallets after Binance said it was cutting off the service, the latest in a running dispute between the two companies over their relationship.
WazirX said in a tweet that it has initiated the process of transferring the funds and expected to complete the job within hours. “Users can continue to trade, deposit & withdraw funds as usual,” the tweet continued. “Your funds are safe with us.” The amount of the funds being transferred wasn’t disclosed.
Binance disclosed in a blog post earlier Friday that it had asked Zanmai Labs, the owner of WazirX, to remove funds from the account that it used for exchange’s operations, citing “misleading claims related to Binance’s alleged role in and responsibility for operating WazirX exchange.”
Binance said it provided Zanmai wallet services “only as a tech solution for their operations of the WazirX exchange” and that it has “never managed or controlled WazirX’s operations.”
(With inputs from Shikha Singh)
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