Binance, the world’s largest cryptocurrency exchange, announced that WazirX’s parent company Zanmai can no longer use Binance’s wallets.
According to the statement made by Binance, the cryptocurrency exchange WazirX in India will no longer be able to use the wallet service offered by Binance:
“On January 26, 2023, we gave Zanmai a choice to either retract his public misrepresentations or stop using our wallet service. Because they refuse to clarify their deceptive statements, Zanmai has until February 4, 2023 (02:59 CEST) to withdraw funds used for WazirX’s activities.”
In the past statements, Zanmai gave a message that the assets of WazirX users and the general activities of the platform are managed by Binance.
Binance, on the other hand, emphasizes that Binance “never manages or controls the activities of WazirX” and states that it only provides wallet services to Zanmai like other companies.
Binance also addressed investors who have money in WazirX, explaining that “Binance has no control over how WazirX users’ funds are managed” and that it is “Zanmai’s responsibility” to withdraw funds held in Binance wallets.