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Indian crypto exchange Wazirx calls Binance’s claims ‘false and baseless’ – seeks recourse – exchanges

Indian crypto exchange Wazirx has denied allegations made by Binance regarding the relationship between the two crypto exchanges. He stressed that the allegations are “false and unfounded,” Wazirx stressed. “Regarding Binance’s actions, we are taking the necessary steps to seek recourse and protect our legal rights.”

Wazirx says Binance’s allegations are ‘false and unfounded’

Wazirx said on Tuesday that Binance’s claims regarding its relationship with Zanmai Labs, allegedly the company that powers the Indian crypto exchange, are “false” and “misleading.” The company added that it is pursuing recourse.

Wazirx wrote on his website:

Binance’s claims on their blog are false and unfounded. As for Binance’s actions, we take the necessary steps to seek recourse and protect our legal rights.

The global cryptocurrency exchange has accused Zanmai of making “a series of misleading claims related to Binance’s alleged role and responsibility for operating the Wazirx exchange.” Binance said on Friday, February 3rd, “The false and misleading representation presented to the public has misrepresented Binance as retaining control of Wazirx user assets, user activity and platform operations. “

Binance’s announcement followed a public spat between the two crypto exchanges. In August of last year, Wazirx founder Nischal Shetty insisted that Wazirx is owned and controlled by Binance. “Zanmai Labs has [a] Licensed by Binance to operate INR crypto pairs in Wazirx… Binance operates crypto-to-crypto pairs, processes crypto withdrawals,” he tweeted.

Wazirx assures users

Also regarding Binance’s announcement, the Indian crypto exchange reassured its users that Wazirx will Wallet-Can no longer use Binance services. Wazirx emphasized that users “can continue to trade, deposit and withdraw their funds as usual,” Wazirx emphasized:

Wazirx users need not worry about Binance’s announcement. We have taken precautions to ensure that Wazirx digital assets are stored in accordance with industry leading standards.

What are your thoughts on the dispute between Wazirx and Binance? Let us know in the comment section below.

Indian crypto exchange Wazirx calls Binance’s claims ‘false and baseless’ – seeks recourse – exchanges, Crypto Trading News

Kevin Helms

As a student of Austrian economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economics and cryptography.

photo credit: Shutterstock, Pixabay, WikiCommons

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Source: Crypto News Deutsch

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