Changpeng Zhao, the CEO of Binance, has urged investors to move their funds from WazirX to Binance. He said that Binance could shut down the WazirX criptocurrency exchange.
Despite the ongoing controversy, the 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 they would like to state that deposits and withdrawals are working as usual. We are evaluating our plan of action and will always act in the best interest of users.
The co-founder of WazirX exchange, Nischal Shetty, kept bickering on Twitter through the night. Shetty claimed that WazirX was acquired by Binance. 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 don't have access to KYC data.
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 that Binance had acquired WazirX. This transaction was never completed. Zhao said that his exchange would be in compliance with the Enforcement Directorate of India. The ED is investigating the WazirX exchange in connection with a case of money laundering via cryptocurrencies.
The exchange disagrees with the allegations made 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 plan of action.