{"id":17431,"date":"2023-02-09T05:03:56","date_gmt":"2023-02-09T05:03:56","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/indian-crypto-exchange-wazirx-calls-binances-allegations-false-and-unsubstantiated-seeks-recourse-exchanges-bitcoin-news\/"},"modified":"2023-02-09T05:03:56","modified_gmt":"2023-02-09T05:03:56","slug":"indian-crypto-exchange-wazirx-calls-binances-allegations-false-and-unsubstantiated-seeks-recourse-exchanges-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/indian-crypto-exchange-wazirx-calls-binances-allegations-false-and-unsubstantiated-seeks-recourse-exchanges-bitcoin-news\/","title":{"rendered":"Indian Crypto Exchange Wazirx Calls Binance’s Allegations ‘False and Unsubstantiated’ \u2014 Seeks Recourse \u2013 Exchanges Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Indian crypto exchange Wazirx has denied the allegations made by Binance regarding the relationship between the two crypto exchanges. Emphasizing that the allegations \u201care false and unsubstantiated,\u201d Wazirx stressed. \u201cAs far as Binance\u2019s actions are concerned, we are taking the necessary steps to seek recourse and protect our legal rights.\u201d<\/strong><\/p>\n

Wazirx Says Binance\u2019s Accusations Are \u2018False and Unsubstantiated\u2019<\/h2>\n

Wazirx said Tuesday that Binance\u2019s allegations regarding its relationship with Zanmai Labs, allegedly the entity that operates the Indian crypto exchange, are \u201cfalse\u201d and \u201cmisleading.\u201d The company added that it is seeking recourse.<\/p>\n

Wazirx wrote on its website:<\/p>\n

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The allegations made by Binance in their blog are false and unsubstantiated. As far as Binance\u2019s actions are concerned, we are taking the necessary steps to seek recourse and protect our legal rights.<\/p>\n<\/blockquote>\n

The global cryptocurrency exchange has accused<\/a> Zanmai of making \u201ca series of misleading claims related to Binance\u2019s alleged role in and responsibility for operating the Wazirx exchange.\u201d Binance said on Friday, Feb. 3: \u201cThe false and misleading narrative put forth to the public misrepresented Binance as maintaining control over Wazirx users\u2019 assets, user activity, and the platform\u2019s operations.\u201d<\/p>\n

Binance\u2019s announcement followed a public dispute<\/a> between the two crypto exchanges. In August last year, Wazirx founder Nischal Shetty insisted that Wazirx is owned<\/a> and controlled by Binance. \u201cZanmai Labs has [a] license from Binance to operate INR-crypto pairs in Wazirx \u2026 Binance operates crypto-to-crypto pairs, processes crypto withdrawal,\u201d he tweeted<\/a>.<\/p>\n

Wazirx Assures Users<\/h2>\n

The Indian crypto exchange also assured its users regarding Binance\u2019s announcement that Wazirx can no longer use<\/a> Binance\u2019s wallet services. Emphasizing that users \u201ccan continue to trade, deposit, and withdraw their funds as usual,\u201d Wazirx stressed:<\/p>\n

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Wazirx users do not have to be concerned about Binance\u2019s announcement. We have made arrangements to ensure that Wazirx\u2019s digital assets are stored in accordance with industry-leading standards.<\/p>\n<\/blockquote>\n

What do you think about the dispute between Wazirx and Binance? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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