TechFlow news, September 17 — According to an official blog post, Binance has issued a formal statement regarding its dispute with Zanmai, the parent company of Indian cryptocurrency exchange WazirX. Previously, on July 18, WazirX suffered a severe cyberattack resulting in approximately $235 million in user fund losses. In its statement, Binance emphasized that although both parties had signed an acquisition agreement, the proposed transaction was never completed due to Zettai (owner of WazirX) failing to fulfill its contractual obligations. As such, Binance never owned, controlled, or operated the WazirX platform at any time—before, during, or after the hack.
Binance strongly rejected claims by Nischal Shetty, primary owner of Zettai, suggesting that the current dispute could result in Binance owning WazirX, thereby making Zettai's creditors Binance's creditors. The company clearly stated it holds no WazirX user funds and is not a party to any user agreements between WazirX and its users, and therefore bears no responsibility for the consequences of the cyberattack. Binance asserted that Shetty's statements are not only inaccurate but also highly misleading.
