CEO Of Binance Asks WazirX Users To Switch

Deep Gautam
4 Min Read

Changpeng Zhao, the CEO of Binance, said that people who have crypto on WazirX should transfer it to Binance. Remember that it has owned WazirX partly. Therefore, people can share funds and cryptocurrencies between the two exchanges. In addition, transferring money from Wazir becomes easy.

CEO of Binance, Changpeng Zhao’s Statement

According to his statement in a Tweet, whether you have any funds on WazirX, you should transfer the fund to Binance company. It is possible to disable WazirX wallets technically, but they will not do it. In addition, they will not hurt the customers.

ED or Enforcement Directorate followed the news. Hence, you should know that the law enforcement agency of India will inform you that WazirX assets got stuck. It has a connection to the biggest crypto exchange, Binance. They continued the investigation because WazirX was suspected of violating foreign exchange rules.

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As soon as it stated on Twitter about disabling the WazirX wallets, people saw many more statements from the Binance CEO and WazirX founder regarding if Binance needs WazirX. As a result, it has boosted the quarrel between Binance and WazirX.

Crypto Exchange WazirX Evaluating Action Plan

The allegations made by ED in a press release did not convince WazirX. This crypto exchange is recently working on the upcoming action plan. ED froze $8.15 Million money about ₹646.70 Million.

According to a statement of a spokesperson of WazirX, they have cooperated with ED completely for a few days and have given all essential responses entirely. They don’t agree with the allegations in the ED press release. They are trying to evaluate their plan of action.

The statement of Binance’s CEO denied that it had acquired WazirX after almost three years of the acquisition of WazirX and Binance. CEO of Binance had claimed that its acquisition was never completed.

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Nischal Shetty, the founder of WazirX, disagreed that Binance acquired the exchange. Besides, he tweeted that the company is the owner of the WazirX domain name with Amazon AWS web hosting servers’ root access. In addition, it holds possession of crypto value and got the crypto profits.

WazirX posts Binance’s Clarification On The Tweet

Changpeng Zhao replied to Nischal Twetty that the Wazirx founding team adjusted the control of the platform’s operations. Binance did not get data or control of users, KYC, etc.

In addition, the CEO of Binance, Changpeng Zhao, emphasized that they cannot control the trading system. Users provided the AWS login but have not given any source code. It is possible to retain access to the AWS account, source code, deploy, etc.

Another tweet followed these tweets where the Binance CEO called WazirX “uncooperative”. According to his statement, WazirX remains uncooperative with the company. In addition, the exchange could be uncooperative with ED also.

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Nischal Shetty responded to ED’s investigation that Zanmai Labs owns WazirX and has been cooperating with ED for more than seven days. They provided all essential data also.

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