Binance Made False Allegations: WazirX
The allegations made against WazirX by the world’s largest cryptocurrency exchange Binance were “false and unsubstantiated,” according to the Indian cryptocurrency exchange. The exchange was also taking steps to protect its “legal rights,” according to the statement.
“Binance’s allegations in their blog are false and unsubstantiated. Concerning Binance’s actions, we are taking the necessary steps to seek redress and protect our legal rights “It was stated in a blog post.
This comes just days after Binance issued an ultimatum to WazirX’s parent company, Zanmai Labs, to stop spreading “false claims” and stop using Binance wallets by February 3.
“It is in the interests of Binance and the public that Zanmai is not permitted to perpetuate false narratives based on their use of Binance’s wallet services. We view such false claims as an attempt to shift the responsibility for WazirX’s operations to Binance. On January 26, 2023, we offered Zanmai a choice between retracting the false public statements or terminating the use of our wallet service. Since Zanmai has refused to clarify their misleading statements, Zanmai has till February 3, 2023, to remove the funds from the accounts that they used for WazirX’s operations,” it said.
In response, WazirX tweeted that it was in 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 said. “Your funds are safe with us.” The amount wasn’t disclosed.
The most recent blog post indicates that the fund transfer is finished.
“Users of WazirX need not be concerned about Binance’s announcement. We have made plans to store WazirX’s digital assets in accordance with industry best practises. Users can keep trading, depositing, and withdrawing funds as usual “It was stated.
(With inputs from Shikha Singh)
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