Binance Rejects Wazirx's Claims — Denies Responsibility for Hack Consequences

Crypto exchange Binance has responded to accusations from Wazirx and Zettai about how its dispute with Wazirx affects user funds lost in the July cyberattack. The company insists that responsibility for the incident lies with Wazirx’s management under Zanmai and Zettai, not Binance. Rejecting claims from co-founder Nischal Shetty, Binance maintains it “bears no responsibility for the consequences of the alleged hack.”

Binance Defends Against Wazirx Accusations After Cyber-Attack

Crypto exchange Binance addressed “inaccurate and misleading statements” from Zettai and Wazirx regarding Binance on Tuesday. The statement emphasized that the responsibility for lost user funds lies with Wazirx’s management under Zanmai and Zettai, not Binance.

In response to claims made by Wazirx, Binance underscored the platform’s duty to protect its users’ assets, stating: “The security and protection of user funds is a fundamental responsibility of any cryptocurrency platform. We urge the Wazirx team under Zanmai/Zettai to be accountable to Wazirx users and compensate them for the funds that have been lost under Zanmai/Zettai management.” While acknowledging the ongoing dispute between Zettai and Binance, the statement continued:

Their responsibility to Wazirx users is unrelated to their dispute with Binance. Their attempts to shift responsibility is a disappointing deflection tactic, but it should not distract anyone from the glaring issue to be addressed here: the need for the Wazirx team to be held accountable for user funds lost under their management.

Binance also rejected claims by Wazirx co-founder Nischal Shetty that Binance was somehow responsible for the July hack’s aftermath. The crypto exchange stressed:

Mr. Shetty suggests that Binance is somehow responsible for the consequences of the cyber-attack, because Binance requested that the Wazirx user funds be removed from Binance wallets. This is incorrect. Binance bears no responsibility for the consequences of the alleged hack.

The statement further explained that Wazirx had ample time to withdraw its funds from Binance’s wallets before the attack. “Binance is not obliged to hold Wazirx user funds and gave fair notice that Wazirx user funds should be removed from Binance’s wallets long before the attack occurred, which Mr. Shetty’s team did.”

What do you think about the dispute between Binance and Wazirx over the user fund losses after the cyberattack? Let us know in the comments section below.