Binance Issues Statement, Denies Involvement in WazirX Crypto Exchange Hack for $230 Million

The world’s leading cryptocurrency exchange by trading volume is distancing itself from the recent cyberattack on its WazirX trading platform.

In a statement released today, Binance said it has never owned, controlled, or operated WazirX and that, contrary to speculation, it was not involved in the wallet breach.

“The WazirX team and Nischal Shetty continue to mislead WazirX customers and the market regarding the relationship between WazirX and Binance.

Binance did not own, control, or operate WazirX at any time, including before, during, or after the July 2024 attack.

On the other hand, Zanmai, an Indian-registered company, is the entity that registered the WazirX platform with the Indian Financial Intelligence Unit in 2023 and is recognized by the Indian Enforcement Directorate as the owner of WazirX.

Binance has called on Zanmai/Zettai to hold WazirX users accountable and compensate them for their losses.

Binance also claims that it did not acquire WazirX, even though the two companies were in negotiations.

Binance says it does not own or operate WazirX, and that Zettai and its affiliates continue to operate the platform. They also claim that Zettai owner Nischal Shetty has made false statements about Binance and its relationship with WazirX.

“Who owns or controls WazirX is not an issue that will be resolved in the ongoing dispute. As we have made clear many times before, Binance does not own or control WazirX. Zettai and its affiliates accept that they continue to operate WazirX. In the dispute, Zettai and its affiliates do not seek a declaration that Binance owns, controls or operates WazirX.

There is no legal basis, in any scenario, for the claim that Binance is liable for the claims against Zettai (see further below). Any suggestion by Mr. Shetty in this regard is incorrect…

Despite Mr. Shetty’s attempts to deflect blame and falsely blame Binance, the facts remain clear: Binance is not a party to the WazirX User Agreement, has never owned or operated WazirX, and does not hold any WazirX user funds. We urge the user community to remain informed and critically evaluate Mr. Shetty’s misleading statements as Binance remains committed to transparency and user protection. We trust that users will be able to come to their own conclusions in light of these facts.”

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