Binance CEO Changpeng Zhao made the statement to clarify his company’s stance after Indian law enforcement raided and frozen some of WazirX’s assets.
Zhao added that the problematic WazirX exchange could be closed, but they did not do this because it would harm users.
Here is CZ’s full statement on Twitter:
“It’s a pity that these should be discussed on Twitter:
Binance provides wallet services for WazirX.
The WazirX domain has been transferred to our control.
We have been given shared access to an AWS account.
We could have turned off WazirX. But we can’t, because it hurts users.
Changpeng Zhao added that Binance is not affiliated with the charges against WazirX by Indian law enforcement:
Binance DOES NOT have control over transactions, including “user registration, KYC, initiation of trading and withdrawals,” as previously stated. This is controlled by the founding team of WazirX. Despite our requests, it was never handed over. The deal was never completed. There was no transfer of shares.
The WazirX founding team retained control of the platform’s operations. We (Binance) will never provide data or control of users, KYC, etc. not given. We would love to work with the authorities to resolve these issues in WazirX.”
Sad that these have to be debated on Twitter:
Binance provides wallet services for WazirX.
WazirX domain is transferred to our control.
We were given a shared access to an AWS account.We could shutdown WazirX. But we can’t, because.. 1/2 https://t.co/YoMIgAHC5v
— CZ 🔶 Binance (@cz_binance) August 5, 2022
WazirX Founder Makes Statement Against CZ
Binance CEO Changpeng Zhao made the statement to clarify his company’s stance after Indian law enforcement raided and frozen some of WazirX’s assets.
Nischal Shetty, co-founder of WazirX, made several statements against the Binance CEO. He stated that the phrase “we can turn off WazirX” directly proves that CZ has full control.
Shetty also claimed that Binance has confirmed that he owns the WazirX domain.
Nischal Shetty, all users on the platform cryptocurrency and assured that his cash assets are safe for now.
Responding to Shetty’s explanations, CZ loaded very hard this time:
“There are people who play deceptive expression games. We can close the domain name. This only hurts users. We are NOT in control of the trading system. You just provided the AWS entry, no source code, no deployment capability. AWS account, source code, distribution, etc. You also retained access.”
People playing deception wording games. We can shut down the domain. It just hurts users. We do NOT have control of the trading system. You just gave the AWS login, no source code, no deployment capability. You also retained access to the AWS account, source code, deploy, etc. https://t.co/Zpp6MYlHtp
— CZ 🔶 Binance (@cz_binance) August 6, 2022
*Not investment advice.