{"id":66294,"date":"2022-08-07T09:02:40","date_gmt":"2022-08-07T09:02:40","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=66294"},"modified":"2022-08-07T09:02:40","modified_gmt":"2022-08-07T09:02:40","slug":"binance-ceo-warns-we-could-disable-wazirx-wallets-advises-investors-to-transfer-funds-to-binance","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=66294","title":{"rendered":"Binance CEO Warns \u2018We Could Disable Wazirx Wallets\u2019 \u2014 Advises Investors to Transfer Funds to Binance"},"content":{"rendered":"

\"Binance<\/p>\n

Binance CEO Changpeng Zhao (CZ) has warned that his company could \u201cdisable Wazirx wallets on a tech level,\u201d advising anyone with funds on the Indian crypto exchange to transfer them to Binance. The warning followed numerous tweets by CZ and Wazirx\u2019s founder regarding whether Binance acquired Wazirx.<\/strong><\/p>\n

Binance\u2019s Warning: Transfer Your Funds<\/h2>\n

The conflict between global crypto exchange Binance and Indian crypto exchange Wazirx has deepened. Binance CEO Changpeng Zhao (CZ) tweeted Friday, advising anyone with funds on Wazirx to transfer them to Binance. He warned: \u201cWe could disable Wazirx wallets on a tech level.\u201d<\/p>\n

\"\"<\/a><\/p>\n

The dispute between Binance and Wazirx began when India\u2019s Directorate of Enforcement (ED) froze the bank assets<\/a> of Wazirx as part of its money laundering investigation.<\/p>\n

Following the ED\u2019s announcement, Binance\u2019s CEO quickly denied that his company had acquired Wazirx \u2014 almost three years after the two exchanges announced the acquisition.<\/p>\n

While Zhao claimed that the acquisition of Wazirx \u201cwas never completed,\u201d Wazirx founder Nischal Shetty disagreed and maintained that his exchange was indeed acquired by Binance.<\/p>\n

Binance vs. Wazirx: Who Owns What<\/h2>\n

Attempting to prove that Binance owns Wazirx, Shetty tweeted that Binance owns Wazirx\u2019s domain name, has root access to its Amazon AWS web hosting servers, has all the crypto assets, and receives all the crypto profits.<\/p>\n

However, CZ argued: \u201cThe Wazirx founding team maintained control of the operations of the platform. We (Binance) were never given data or control of users, KYC, etc.\u201d Responding to Shetty\u2019s tweet about Binance owning Wazirx, Zhao stressed:<\/p>\n

\n

We do NOT have control of the trading system. You just gave the AWS login, no source code, no deployment capability. You also retained access to the AWS account, source code, deploy, etc.<\/p>\n<\/blockquote>\n

In a follow-up tweet, CZ claimed that Wazirx has been uncooperative with Binance, adding that the exchange appears to be uncooperative with the ED as well.<\/p>\n

\"\"<\/a><\/p>\n

Regarding the ED\u2019s investigation, Shetty tweeted that Zanmai Labs, the entity that owns Wazirx, \u201chas been cooperating with ED for over 7 days and has submitted all the required data.\u201d Wazirx also tweeted:<\/p>\n

\n

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.<\/p>\n<\/blockquote>\n

What do you think actually happened between Binance and Wazirx? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Binance CEO Changpeng Zhao (CZ) has warned that his company could \u201cdisable Wazirx wallets on a tech level,\u201d advising anyone with funds on the Indian crypto exchange to transfer them to Binance. The warning followed numerous tweets by CZ and Wazirx\u2019s founder regarding whether Binance acquired Wazirx. Binance\u2019s Warning: Transfer Your Funds The conflict between […]<\/p>\n","protected":false},"author":2,"featured_media":66295,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-66294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/66294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=66294"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/66294\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/66295"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}