Binance, a cryptocurrency exchange, plans to disable a well-known Indian crypto wallet while simultaneously requesting that investors move their money out of the wallet.
Changpeng Zhao (CZ), CEO of Binance, stated that the business will "technically deactivate Wazirx wallets."
He suggested that everyone with money on the Indian cryptocurrency exchange move it to Binance. The alert came after CZ and the creator of Wazirx exchanged multiple tweets on whether Binance had purchased Wazirx.
Warning from Binance: Move Your Money:
The dispute between the Indian cryptocurrency exchange Wazirx and the global cryptocurrency exchange Binance has widened. Changpeng Zhao, the CEO of Binance, tweeted on Friday that everyone holding money on Wazirx should move it to Binance.
Wazirx's bank accounts were frozen by India's Directorate of Enforcement (ED) as part of a money laundering probe, which sparked a disagreement between Binance and Wazirx.
Nearly three years after the two exchanges announced the purchase, Binance's CEO swiftly disputed that his business had bought Wazirx in response to the ED's notification. Nischal Shetty, the creator of Wazirx, disputed with Zhao's assertion that Binance had really bought his exchange, saying that it "was never finalized."
Binance vs. Wazirx:
Shetty stated that Binance owns Wazirx's domain name, has root access to its Amazon AWS web hosting servers, owns all of the crypto assets, and receives all of the crypto revenues in an effort to establish Binance's ownership of Wazirx.
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