WazirX calls out Binance’s allegations, says user assets are safe

WazirX app (Image: Shutterstock)

Zanmai Labs owned-WazirX on February 8 issued a statement disputing Binance’s claims of the crypto exchange driving a false narrative based on its use of the latter’s wallet services. This comes days after Binance said that it is stopping its wallet services to WazirX following a long-standing legal battle.

In a latest blog post, WazirX said, “The allegations made by Binance in their blog are false and unsubstantiated. As far as Binance’s actions are concerned, we are taking the necessary steps to seek recourse and protect our legal rights.”

WazirX also added that it has made arrangements to ensure WazirX’s digital assets are “stored in accordance with industry-leading standards.”

“Users can continue to trade, deposit, and withdraw their funds as usual,” it said.

Before shutting wallet services for WazirX’s users on February 3, Binance had posted that it had given Zanmai a choice on January 26 to either retract its public statements and continue using Binance’s services or terminate the use of the latter’s wallet service.

Also Read: Binance to stop wallet services to Zanmai Labs-owned WazirX

“It is in the interests of Binance and the public that Zanmai is not permitted to perpetuate false narratives on the basis of their use of Binance’s wallet services. We view such false claims as an attempt to shift the responsibility over WazirX’s operations to Binance,” the company had said.

Binance had also said that it has invited Zanmai to help arrange withdrawal of remaining assets post February 3.