Binance CEO hints shutting down WazirX

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.

Nischal Shetty, the co-founder of WazirX crypto exchange claimed that WazirX was acquired by Binance, to which Zhao replied 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.

WazirX exchange said that deposits and withdrawals on the exchange are working as usual and the exchange would act in the best interest of its users. “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,” the exchange said.

The WazirX-Binance dispute was sparked after Zhao recently tweeting: “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 (ED) of India. The ED has been investigating WazirX exchange in connection with a case of money laundering via cryptocurrencies.

WazirX said, “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.”