Binance CEO Changpeng Zhao (CZ) has warned that his company could “disable Wazirx wallets on a tech level,” advising anyone with funds on the Indian crypto exchange to transfer them to Binance. The warning numerous tweets by CZ and Wazirx’s founder regarding whether Binance acquired Wazirx.
Binance’s Warning: Transfer Your Funds
Conflict between Indian cryptocurrency exchange Wazirx and global crypto exchange Binance has intensified. Changpeng Zhao (CZ), Binance CEO, tweeted Friday asking people with Wazirx funds to send them to Binance. He warned: “We could disable Wazirx wallets on a tech level.”
The dispute between Binance and Wazirx began when India’s Directorate of Enforcement (ED) froze the bank assets of Wazirx as part of its money laundering investigation.
Following the ED’s announcement, Binance’s CEO quickly denied that his company had acquired Wazirx — almost three years after the two exchanges announced the acquisition.
While Zhao claimed that the acquisition of Wazirx “was never completed,” Wazirx founder Nischal Shetty disagreed and maintained that his exchange was indeed acquired by Binance.
Comparison of Binance and Wazirx: Who owns what?
Attempting to prove that Binance owns Wazirx, Shetty tweeted that Binance owns Wazirx’s domain name, has root access to its Amazon AWS web hosting servers, has all the crypto assets, and receives all the crypto profits.
However, CZ argued: “The Wazirx founding team maintained control of the operations of the platform. We (Binance) were never given data or control of users, KYC, etc.” Responding to Shetty’s tweet about Binance owning Wazirx, Zhao stressed:
We don’t have any control over the trading system. The AWS login was given to you, but there is no source code or deployment ability. The AWS account was also accessible to you, including source code and deploy.
CZ stated in a tweet that Wazirx had been non-cooperative to Binance. He also claimed that the exchange appeared uncooperative towards the ED.
Regarding the ED’s investigation, Shetty tweeted that Zanmai Labs, the entity that owns Wazirx, “has been cooperating with ED for over 7 days and has submitted all the required data.” Wazirx also tweeted:
Since several days, we have fully cooperated with the Enforcement Directorate and responded fully to their inquiries. The ED press release does not contain any of the claims we disagree with. Our next plan of action is being evaluated.
Is there any truth to the story of Binance and Wazirx actually happening? Please comment below.
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