• The spat between Binance and WazirX began last year when the Indian government raided offices belonging to the exchange’s operator.
• Binance had issued a statement urging Zanmai to “work out arrangements with us to withdraw any remaining assets in the relevant accounts after 3 February.”
• This is because Binance believes WazirX’s operator had made numerous “false public statements” in the past related to the former’s “alleged role in and responsibility for operating” the latter.
The saga between world-leading crypto exchange, Binance, and Indian crypto exchange, WazirX, has taken another turn. Last year, due to the Indian government raiding offices belonging to Zanmai (the exchange’s operator), $8 million worth of assets were frozen. Despite reports claiming that Binance owns at least a portion of Zanmai, they refused any other affiliation with it.
Today, BInance issued another statement urging Zanmai to “work out arrangements with us to withdraw any remaining assets in the relevant accounts after 3 February” due to their false public statements regarding Binance’s alleged role and responsibility for operating WazirX.
BInance Refuses Responsibility
BInance has denied any responsibility or ownership over WazirX despite reports claiming otherwise and have given an ultimatum to its operator to withdraw customer funds from its infrastructure and wallets by 3rd February 2021 failing which they will be forced take action against them.
False Public Statements
BInance believes that WazirX’s operator has made numerous “false public statements” related to the former’s alleged role in and responsibility for operating the latter which is why they’ve given an ultimatum for them withdraw all customer funds stored on their infrastructure before 3rd February 2021.
No Clarification from WazirX
Since Zanmai has refused to clarify these misleading statements either by retracting them or terminating use of wallet service provided by BInance, they have been given until 3rd February 2021 as deadline after which action may be taken against them according by law if necessary.