• Binance has cut ties with WazirX and canceled its wallet service after months of public arguments.
• The move comes as a reaction to false statements made by WazirX after an investigation for money laundering.
• WazirX has started transferring funds to multi-signature wallets, telling users their funds are still safe.

Background on Binance and WazirX

Binance is the world’s largest crypto exchange, while WazirX is an Indian crypto exchange owned by Zanmai Labs. In recent months, there has been a public argument between the two exchanges after WazirX came under investigation for money laundering.

Binance Cuts Ties with WazirX

In an apparent move to cut ties with the Indian crypto exchange, Binance has stopped offering wallet services to WazirX. Binance claims that they have „offered Zanmai a choice between retracting the false public statements (and continuing to use our services) or terminating the use of our wallet service,“ according to its blog post. As an exception, it invited Zanmai Labs to work out arrangements with them in order for them to withdraw any remaining assets before 3 February.

WazirX Response

In response, WazirX said they have started transferring funds to multi-signature wallets and told users their funds are still safe. They reassured customers that they can continue trading, depositing and withdrawing funds as usual despite the news from Binance.

Binance Claims

Binance claims that it only offers wallet services and a tech solution to WazirX and similar services are offered other businesses as well. Moreover, Binance claims that false statements were made by WaziRx in order shift responsibility of potential wrongdoing away from itself which led them cutting ties with them in the first place.


The relationship between Binance and WaziRx took a drastic turn when false allegations were made against each other leading up to this decision where all links have been severed between these two giants in this industry. However users who have invested in both companies can be rest assured that their funds are still safe despite this whole ordeal coming into play over time

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