Nischal says Binance Statement against WazirX False

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As a seasoned researcher with years of experience in the complex world of cryptocurrency and blockchain, I find myself intrigued by this ongoing dispute between Binance and WazirX. The latest response from Nischal Shetty, co-founder of WazirX, raises valid concerns about the portrayal of facts in Binance’s statement.

On September 17, 2024, Nischal Shetty, co-founder of WazirX, addressed a statement released by Binance, in which they rejected WazirX’s assertions and absolved themselves of responsibility for user losses resulting from the ₹2,000 crore hack.

In the latest document filed, Nischal Shetty contested Binance’s representation, stating that the information provided was selectively chosen to create an inaccurate impression about the ongoing disagreement.

As a Binance investor, I can confirm they’ve unequivocally refuted claims suggesting their ownership, control, or operation of WazirX at any point, including before, during, or after the July 2024 incident that resulted in substantial user asset losses for WazirX.

Shetty accuses Binance of misleading users by showing only one sides picture of the dispute.

He highlighted concerns about the confidentiality of the matters referenced in Binance’s statement, indicating that disclosing such information could jeopardize the integrity of the legal proceedings. He stated that he does not wish to engage in a detailed refutation of each point made by Binance at this time.

As a WazirX user, I understand that Binance’s statements don’t affect Zettai’s stance towards us. Essentially, we are classified as contingent unsecured creditors, which means we have claims on the platform’s resources. However, this status doesn’t ensure a return of our funds.

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2024-09-20 07:00