Indian cryptocurrency exchange Wazirx has disputed Binance's claims about the two cryptocurrency exchanges' ties. Emphasizing that the claims “are unfounded and unsubstantiated,” Wazirx underlined. “With regard to Binance's activities, we are taking the required measures to seek redress and safeguard our legal rights.”
Wazirx calls Binance's allegations “false and unsubstantiated.”
Wazirx said on Tuesday that Binance's claims about its ties with Zanmai Labs, the firm that reportedly controls the Indian crypto exchange, are “false” and “misleading.” The corporation also said that it is looking for legal remedies.
Wazirx said on its website that Binance's charges in their blog are incorrect and baseless. Concerning Binance's conduct, we are taking the required measures to seek redress and safeguard our legal rights.
Zanmai has been accused by Binance of making “a series of deceptive allegations linked to Binance's supposed position in and responsibility for administering the Wazirx exchange.” “The false and deceptive narrative put forward to the public characterized Binance as keeping control over Wazirx users' assets, user behavior, and the platform's operations,” Binance stated on Friday, Feb. 3.
Binance's statement came after a public spat between the two cryptocurrency exchanges. Wazirx creator Nischal Shetty asserted in August that Wazirx is owned and managed by Binance. “Zanmai Labs has a Binance license to operate INR-crypto pairings in Wazirx... Binance runs crypto-to-crypto pairings and handles cryptocurrency withdrawals,” he tweeted.
Wazirx Guarantees Users
The Indian crypto exchange further informed its customers that, after Binance's news, Wazirx would no longer be able to access Binance's wallet services. “Users may continue to trade, deposit, and withdraw their cash as normal,” Wazirx underlined.
Users of Wazirx need not be alarmed by Binance's statement. We have established plans to store Wazirx's digital assets in line with industry-leading standards.
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