Global exchange Binance has addressed the \u201cmisleading\u201d claims made by hacked trading platform WazirX, denying any involvement with the Indian exchange and demanding \u201caccountability\u201d from its team after the $235 million crypto heist.<\/p>\n
The clarification comes after WazirX\u2019s team suggested that users might have to wait until the dispute between the hacked exchange\u2019s parent company and the largest crypto exchange is settled.<\/p>\n
On Tuesday, Binance shared<\/a> a statement correcting Zettai\u2019s \u201cinaccurate and misleading statements\u201d concerning the global exchange. WazirX\u2019s parent company, Singapore-based company Zettai is in a legal dispute with the largest crypto exchange by trading volume since January 2023.<\/p>\n The hacked Indian platform previously announced<\/a> that Zettai filed an application with the High Court of Singapore for a moratorium to \u201cfacilitate its intention to restructure its liabilities under a scheme of arrangement.\u201d<\/p>\n\n The hacked<\/a> exchange explained that the moratorium filling would provide \u201cbreathing space\u201d if approved while the Singapore-based firm progressed with the restructuring plans and users\u2019 repayment.<\/p>\n However, if the application is denied, customers must wait until the dispute against Binance is resolved. \u00a0WazirX also claimed that the dispute\u2019s resolution would determine who was liable for users\u2019 account balances:<\/p>\n Users may have to wait until the dispute with Binance is resolved, as Zettai holds the cryptocurrency tokens under protest (\u2026). It would be only after the dispute with Binance is resolved that the Platform\u2019s users might have some clarity over who owns the Platform and its cryptocurrency tokens. (\u2026) If Binance is deemed the owner, it becomes liable for users\u2019 account balances. If Zettai is confirmed as the owner, it holds that liability instead.<\/p>\n In its response, the exchange denied the possibility of being liable for users\u2019 balances. The blog post clarified that Zettai\u2019s responsibility to WazirX users is \u201cunrelated\u201d to their dispute with Binance.<\/p>\n Moreover, the platform\u2019s team labeled several statements by Zettai\u2019s main owner, Nischal Shetty, made on the two affidavits submitted to support the moratorium application as \u201cinaccurate.\u201d<\/p>\n The global exchange rejected Shetty\u2019s comments suggesting that the dispute\u2019s outcome could determine if they own WazirX. This statement implied that Zettai\u2019s creditors would become Binance creditors<\/a> and that the exchange could be responsible for making the affected users whole.<\/p>\n The blog post clarifies that WazirX\u2019s ownership is not an issue that will be resolved in the ongoing legal battle, as Zettai or its affiliates are not seeking a declaration that Binance owns or controls the hacked platform.<\/p>\n Moreover, the exchange declared it is not the owner, controller, or operator of WazirX, stating that \u201cthere is no legal basis, in any scenario, to the claim that Binance would be liable for claims.\u201d<\/p>\n Binance demanded Zettai and WazirX\u2019s team take accountability for the $235 million crypto heist, condemning their attempts to allegedly \u201cdeflect the blame\u201d with \u201coutrageously misleading\u201d statements.<\/p>\nBinance Rejects Liability<\/h2>\n