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Binance could shut down WazirX, move your funds: Changpeng Zhao

Binance could shut down WazirX, move your funds: Changpeng Zhao

The founders of the crypto exchanges kept bickering over Twitter through the night

Changpeng Zhao, CEO of Binance Changpeng Zhao, CEO of Binance

Changpeng Zhao, the CEO of Binance, has urged investors to move their funds from WazirX to Binance. He also stressed that Binance could shut down WazirX crypto exchange.

Zhao tweeted:

Despite the ongoing controversy, WazirX exchange told Business Today that deposits and withdrawals on the exchange are working as usual and the exchange would act in the best interest of its users. They said, “We would like to state that currently deposits and withdrawals are working as usual. We are evaluating our further plan of action and will always act in the best interest of users.

Zhao and Nischal Shetty, the co-founder of WazirX crypto exchange, kept bickering over Twitter through the night. Shetty claimed that ‘WazirX was acquired by Binance’. To this Zhao replied in a tweet that Binance only provides wallet services to WazirX. He stressed that the WazirX domain was transferred to Binance and they have shared access to an Amazon Web Services account but they do not have access to KYC data.

He tweeted:

To this Shetty asked if Binance is open to acquiring Zanmai Labs Private Limited, the parent company of WazirX. Shetty tweeted:

The WazirX-Binance feud was sparked after Zhao took to Twitter on Friday evening to say, “Binance published a blog post that it had “acquired” WazirX. This transaction was never completed.”

Zhao also said that his exchange would comply with the Enforcement Directorate of India. The ED has been investigating WazirX exchange in connection with a case of money laundering via cryptocurrencies.

The exchange disagrees with the allegations put forth by ED. They told Business Today, “We have been fully cooperating with the Enforcement Directorate(ED) for several days and have responded to all their queries fully and transparently. We do not agree with the allegations in the ED press release. We are evaluating our further plan of action.”

Also Read: WazirX was acquired by Binance: Nischal Shetty

Also Read: WazirX bank assets worth Rs 67.67 crore frozen after ED searches - BusinessToday

Also Read: Binance denies owning equity in WazirX as exchange faces trouble with ED - BusinessToday