Key Takeaways:
- Binance denies responsibility for the $230M hack on WazirX, rejecting calls to compensate users.
- Binance clarified no acquisition deal was finalized with WazirX, which is owned by Zanmai Labs.
- Binance accuses WazirX’s CEO of deflecting blame for the hack through misleading claims.
Binance has denied responsibility for a $230 million hack on the Indian cryptocurrency exchange WazirX, rejecting claims that it should compensate affected users.
The confusion stems from WazirX’s suggestion that Binance, allegedly controlling WazirX, should cover losses.
BINANCE DENIES WAZIRX OWNERSHIP AND LIABILITY IN $235M HACK
— BSCN (@BSCNews) September 17, 2024
– Binance denies claims of owning WazirX, refuting allegations tied to a $235M hack that hit the Indian exchange in July 2024.
– Binance emphasizes that WazirX should take full responsibility for the lost user funds,… https://t.co/ExdEcxzF2c pic.twitter.com/2ceiZWZaeb
Binance clarified on September 17 that although both platforms had discussed an acquisition, no deal was ever finalized due to WazirX-related entity Zettai Pte Ltd‘s failure to meet obligations.
Binance stated it has never owned or operated WazirX and stressed that WazirX is controlled by Zanmai Labs in India.
Binance said that the WazirX platform operated by Zanmai was attacked, resulting in a loss of $235m, and has been unable to meet customer withdrawal requests. Rumors that Binance is responsible for WazirX creditors are false because the proposed transaction was not completed.…
— Wu Blockchain (@WuBlockchain) September 17, 2024
The denial follows legal disputes between Binance and WazirX’s leadership, with Binance accusing WazirX CEO Nischal Shetty of making misleading claims to deflect blame for the hack.
Binance reiterated that it has no legal responsibility for the incident.
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