Wazirx's comeback at the Denial of Wallet Services threatens Binance with legal steps
Wazirx's comeback at the Denial of Wallet Services threatens Binance with legal steps
The opaque and fascinating possession of the Indian crypto exchange Wazirx continues to confuse investors and crypto honchos alike. In the past two weeks there were again disputes between the top executives of Binance and Wazirx.
In August 2022, Changpeng Zhoa, CEO von Binance, and Nischhal Shetty, CEO von Wazirx, had lied to each other publicly about the possession of the latter.
wazirx threatens Binance with legal steps
Finally Wazirx described the allegations of Binance on February 3 statement that only gave his alienated Indian part of his money from his money To withdraw the wallets and accounts as "wrong and unfounded".
response to the deadline, wazirx later tweeted that "assets in multi-sig-wallets", which was expected fully "In the next few hours."
In a short explanation on February 7, Wazirx said, the crypto exchange based in India, based in Singapore, that their users should not worry, since according to the consequences of the conflict with Binance "The digital assets of Wazirx are stored in accordance with industry leaders." But the announcement threatened Binance with legal steps.
"The claims of Binance in your blog are wrong and unfounded. As far as the measures of Binance are concerned, we take the necessary steps to take recourse and protect our legal rights," says Wazirx called.
Binances deadline for stopping the wallet service
As the background for the extreme decision, the world's largest crypto exchange accused the platform based in India to have "misleading claims in connection with the alleged role of bony and responsibility for the operation of the Wazirx exchange".
"Since Zanmai has refused to clarify her misleading statements, Zanmai has until February 3, 2023 (23:59 UTC) time to remove the funds from the accounts that they used for the operation of Wazirx," says the explanation.
In the past few weeks, media revealed that relationships between the two crypto companies have been through tense moments as Binance Wazirx Asked to withdraw statements by his CEO Nischal Shetty. They claimed that the Indian Stock Exchange Binance heard a claim that the latter made in a blog from 2019, which has been reported and changed since then.
What is behind the latest flare-up?
The latest flare began at some point in the last month when Shetty again claimed in his communication with Binance that the holding company of Wazirx, Zanmai Labs, had transferred control of its user assets to the stock exchange led by CZ. He added that Binance had unilaterally benefited from this deal .
This claim was violently contradicted by Binance in his declaration of February 3. According to a recent report by a third-party provider about the Proof of Reserve from Wazirx, 90 % of the user money of the Indian stock exchange was stored in Binance walls. .