Binance Refutes Wazirx's Allegations — Disclaims Liability for Hack Fallout

Binance, the cryptocurrency exchange, has responded to accusations from Wazirx and Zettai regarding the impact of its dispute with Wazirx on user funds lost in the July cyberattack. Binance asserts that the responsibility for the incident falls on Wazirx’s management under Zanmai and Zettai, not on Binance. Dismissing claims from co-founder Nischal Shetty, Binance emphasizes that it "bears no responsibility for the consequences of the alleged hack."

Binance Counters Wazirx Allegations Following Cyber-Attack

On Tuesday, crypto exchange Binance responded to “inaccurate and misleading statements” from Zettai and Wazirx concerning Binance. The response highlighted that the responsibility for the lost user funds rests with Wazirx’s management under Zanmai and Zettai, not Binance.

Addressing Wazirx’s claims, Binance stressed the platform's obligation to safeguard its users’ assets, stating: “The security and protection of user funds is a fundamental responsibility of any cryptocurrency platform. We call on the Wazirx team under Zanmai/Zettai to take responsibility and compensate Wazirx users for the funds lost under Zanmai/Zettai management.” The statement also acknowledged the ongoing dispute between Zettai and Binance, continuing:

" Their responsibility to Wazirx users remains separate from their dispute with Binance. Efforts to shift blame are a disappointing attempt to deflect, but they should not distract from the key issue at hand: the need for the Wazirx team to be held accountable for the user funds lost under their management. "

Binance also dismissed assertions made by Wazirx co-founder Nischal Shetty, who suggested that Binance was in some way responsible for the aftermath of the July hack

" 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 clarified that Wazirx had sufficient time to withdraw its funds from Binance’s wallets prior to the attack. “Binance is not obligated to hold Wazirx user funds and provided fair notice that these funds should be removed from Binance’s wallets well before the attack took place, which Mr. Shetty’s team did.”