WazirX Can No Longer Use Our Wallet Services: Binance

Crypto giant Binance on Friday said WazirX can longer use its wallet service. The company had given latter until 3 February to clarify on statements made over its association with Binance. 

“On 26 January 2023, we offered Zanmai a choice between retracting the false public statements (and continuing to use our services) or terminating the use of our wallet service. Since Zanmai has refused to clarify their misleading statements, Zanmai has till 3 February 2023 (23:59 UTC) to remove the funds from the accounts that they used for WazirX’s operations,” said Binance in a blog post.

Binance said that WazirX-owner Zanmai has made a series of misleading claims related to Binance’s alleged role in and responsibility for operating the WazirX exchange. The company continued by emphasising that Zanmai put forth a “false and misleading narrative” to the public and misrepresented Binance as maintaining control over WazirX users’ assets, user activity, and the platform’s operations.

The Changpeng Zhao-led company maintained that it just provided Zanmai wallet services as a tech solution for the operations of the WazirX exchange. 

“Binance has never managed or controlled WazirX’s operations, including in relation to users’ assets and user activity. Our provision of wallet services to Zanmai was not unique –  it was similar to arrangements we have with numerous other firms that use our technology and infrastructure to independently run their businesses,” Binance said.

The cyrpto behemoth said it has invited Zanmai to make arrangements to withdraw any remaining asserts in the relevant accounts after 3 February.