Popular crypto exchange Binance has restricted its India-based counterpart Wazirx from using the Binance wallet services.
Wazirx operator Zanmai had a deadline until the 3rd of February to empty the wallets used for the operations made on behalf of Wazirx. The announcement follows recent animosity between the two crypto exchanges.
According to Binance, the Indian crypto exchange will stop using its wallet services, with Binance explaining that it doesn’t control Wazirx user funds or other aspects of the latter’s operations. The global company previously offered wallet tech services and other related solutions to Zanmai, Wazirx’ operator.
Although Zanmai showed intent to withdrawing all funds from the company’s accounts, Binance stated that Wazirx has yet to fully empty the Binance wallets. The animosity began with a Binance-Wazirx public debate on the nature of their relationship. Binance described Zanmai as spreading misleading claims tied to the reported role of Binance in the operations of the Indian crypto exchange.
Binance called the narrative misleading and false and Zanmai publicly misrepresented the global exchange as being in control over users’ Wazirx assets, activity, and the operations of the Indian company. Binance further stated that it offered Zanmai wallet services just as solutions to the Wazirx operations. On the 26th of January, Binance gave an ultimatum to Wazirx, to either retract its public statements and continue to have access to Binance wallets or end the relationship altogether.
With Zanmai refusing to provide clarifications about previous statements, Binance gave the Indian company a 3 February deadline to withdraw all funds from the company’s accounts.