Binance CEO Changpeng Zhao (CZ) has advised all users of the global cryptocurrency exchange holding cash on the Indian crypto exchange Wazirx to transfer their funds to Binance. This is after CZ also issued a warning that Binance could technically shut Wazirx wallets.
Wazirx users warned due to lack of cooperation with Binance
The alert came after CZ and the creator of Wazirx exchanged multiple tweets on whether Binance had purchased Wazirx, seemingly widening the dispute between the two crypto exchanges.
CZ, on his Twitter account, posted on Saturday that everyone holding money on Wazirx should move it to Binance saying that “We could disable WazirX wallets on a tech level, but we can’t/won’t do that. And as much debates as we are enduring, we can’t/won’t hurt users.”
The conflict between the two platforms started when India’s Directorate of Enforcement (ED) blocked Wazirx’s bank assets as part of its investigation into money laundering.
After the ED’s statement, Binance’s CEO instantly disputed that his business had purchased Wazirx — over three years after the two exchanges disclosed the deal.
Zhao said that Binance’s purchase of the company “was never completed,” but Wazirx’s founder, Nischal Shetty, said that Binance did buy his exchange.
Wazirx founder refutes CZ’s claims
In his Twitter post, Shetty said:
“We could shut down WazirX” – Proves you have control
“Shared access of AWS” – You have ROOT access of AWS! Anyone with root access controls AWS
“WazirX domain transferred to our control” – Good to see you confirm that
Only control now is Zanmai, why are you not taking it? https://t.co/5E4zzWiOI7
— Nischal (Shardeum) ⚡️ (@NischalShetty) August 6, 2022
However, CZ replied that Wazirx has full control of the platform operations while his platform never has control of its users and its KYC. He also said that they did not cooperate with Binance.
Yet, Shetty claimed that Zanmai Labs, the owner of Wazirx, cooperated with ED for a week and submitted all required data.