Binance, the world’s largest cryptocurrency exchange, has firmly denied any responsibility for the recent $230 million hack of Indian exchange WazirX. The company is calling on WazirX to take full accountability and compensate users affected by the massive cyberattack.
Binance Rejects Blame
After the July 18 hack, WazirX suggested that Binnace Exchange might be responsible for covering the losses. The exchange claimed that it had acquired or controlled WazirX, implying it should handle the fallout.
In a statement released on September 17, Binance pushed back on these claims. It called WazirX’s attempt to shift blame “disappointing” and a distraction from the real issue — WazirX’s failure to protect its users. Binance emphasized that the WazirX team must take responsibility for the lost funds.
“Their attempts to shift responsibility is a disappointing deflection tactic,” the company said. “The real focus should be on holding WazirX accountable for the funds lost under their management.”
Binance Did Not Acquire WazirX
Clarification about the WazirX relationship was provided. Despite rumours, Binance clarified that it never completed a deal to acquire the Indian exchange. The two companies had signed a contract, but the transaction was never finalized because WazirX’s parent company, Zettai, failed to meet its obligations.
“Binance never acquired or controlled WazirX,” the statement read. “We have never owned, operated, or managed WazirX at any time, including before, during, or after the hack.” Instead, WazirX is run by Zanmai Labs Pvt Ltd, a company based in India that is regulated locally.
Legal Disputes Continue
This statement from Binance comes after Zettai Pte Ltd, which owns WazirX, filed a case with Singapore’s High Court. The case, filed on August 27, seeks to prevent WazirX’s creditors from taking collective legal action against the exchange.
Nischal Shetty, WazirX’s co-founder and CEO, has made several claims about Binance’s involvement, which Binance denies. Binance called Shetty’s statements misleading and said he is trying to deflect responsibility for the hack.
“There is no legal basis for holding us liable for Zettai’s debts,” the company said. “Mr Shetty’s claims are false and designed to mislead.”
Also Read:
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