Wazirx, the Indian crypto exchange, has denied the allegations made by Binance regarding the relationship between the two crypto exchanges.
It has been reported that emphasizing that the allegations “are false and unsubstantiated,” Wazirx stressed.
Wazirx added:
“As far as Binance’s actions are concerned, we are taking the necessary steps to seek recourse and protect our legal rights. The allegations made by Binance in their blog are false and unsubstantiated. As far as Binance’s actions are concerned, we are taking the necessary steps to seek recourse and protect our legal rights.”
However, the global cryptocurrency exchange has accused Zanmai of making “a series of misleading claims related to Binance’s alleged role in and responsibility for operating the Wazirx exchange.”
Binance said:
“The false and misleading narrative put forth to the public misrepresented Binance as maintaining control over Wazirx users’ assets, user activity, and the platform’s operations.”
The report said that Binance’s announcement followed a public dispute between the two crypto exchanges. In August last year, Wazirx founder Nischal Shetty insisted that Wazirx is owned and controlled by Binance. “Zanmai Labs has [a] license from Binance to operate INR-crypto pairs in Wazirx … Binance operates crypto-to-crypto pairs, processes crypto withdrawal,” he tweeted.
Wazirx also assured its users regarding Binance’s announcement that Wazirx can no longer use Binance’s wallet services. Emphasizing that users “can continue to trade, deposit, and withdraw their funds as usual.”
Thus, Wazirx added:
“Wazirx users do not have to be concerned about Binance’s announcement. We have made arrangements to ensure that Wazirx’s digital assets are stored in accordance with industry-leading standards.”
Source: Bitcoin.com