Binance Issues Statement, Denies Involvement in $230,000,000 Hack of Crypto Exchange WazirX

The world’s leading cryptocurrency exchange by trading volume is distancing itself from a cyberattack that recently compromised the WazirX trading platform.

In a statement released today, Binance said that it has never owned, controlled, or operated WazirX and that it was not involved in the compromised wallet, contrary to speculation.

“The WazirX team and Nischal Shetty continue to mislead WazirX customers and the market regarding the relationship between WazirX and Binance.

Binance has not owned, controlled, or operated WazirX at any time, including before, during, or after the July 2024 attack.

On the other hand, Zanmai, a company incorporated in India, is the entity that registered the WazirX platform with the Indian FIU in 2023, and is recognized by India’s Enforcement Directorate as the owner of WazirX.”

Binance urged Zanmai/Zettai to be held accountable to WazirX users and to compensate them for their losses.

Binance also says that they did not take over WazirX, despite the two companies holding negotiations.

Binance claims that it does not own or operate WazirX and that Zettai and its affiliates continue to operate the platform. Furthermore, they claim that Zettai’s owner, Nischal Shetty, has made inaccurate statements about Binance and its relationship with WazirX.

“Who owns or controls WazirX is not an issue that will be resolved in the ongoing dispute. As we have repeatedly made clear previously, Binance does not own or control WazirX. Zettai and its affiliates accept that they still operate WazirX. In the dispute, Zettai and its affiliates are not seeking a declaration that Binance is the owner, controller, or operator of WazirX.

There is no legal basis, in any scenario, to the claim that Binance would be liable for claims against Zettai (see further below). Any suggestion of Mr. Shetty to this effect is incorrect…

Despite Mr. Shetty’s attempts to deflect blame and falsely implicate Binance, the facts remain clear: Binance is not a party to WazirX’s User Agreement, has never owned or operated WazirX, and does not hold any WazirX user funds. We urge the user community to stay informed and critically evaluate the misleading statements made by Mr. Shetty, as Binance remains committed to transparency and user protection. We trust users to be able to come to their own conclusions in light of these facts.”