Binance founder and former CEO Changpeng Zhao or ‘CZ’ wished Indians on Diwali festival on Thursday through a post made on X, however, several affected users of WazirX crypto exchange, urged him to speak on the legal tussle between Binance and Nischal Shetty’s Zettai over ownership of WazirX.
Sending festive greetings to Indians, CZ wrote on X,” May this Diwali dispel darkness and bring forth the light of knowledge. I wish everyone a joyous festival of lights that illuminates hearts with happiness, peace, and harmony.”
After CZ made the post, several users tried to attract his attention towards suspended founds of over 4.4 million users of India in the WazirX exchange post the Rs 2000 crore hack. Some users also suggested CZ to let Binance take over WazirX and solve the ongoing funds crisis.
On July 18, the WazirX exchange wallet was hit by a cyber hack that resulted in loss of Rs 2000 crore worth of crypto funds belonging to users. Since the hack, the exchange management has revealed that they have been involved in a legal tussle with Binance where none of the two parties wish to take ownership of WazirX exchange. In 2019, Nischal Shetty, the co-founder of WazirX, had claimed that Binance had acquired WazirX exchange, however, the deal went rogue and since 2023, the exchange, technically, had no ownership.
Its worthwhile to note that all these details were made private only after the WazirX parent company Zettai Pte Ltd was sued by other exchanges post the hack.
One user named Adraa asked CZ to buy WazirX so that their problem could be solved. He wrote” @cz_binance please buy or help WazirXIndia because we always trust on @binance and you but the Indian government banned Binance in India that’s why we transfer the fund to wazir x now they didn’t give our money back what should we do. You are the only one who can solve this problem help plz”
A user Amol Jagde urged Indian crypto influencers attending Blockchain event in Dubai to urge CZ to speak up on the issue.
Ever since the Rs 2000 crore hack, relations between WazirX and Binance have soured with both parties taking potshots at each other and Binance clearly refusing to accept any responsibility towards user funds. It remains to be seen now whether CZ would be willing to sail into these muddy waters, to rescue Indian creditors of WazirX.
Also Read: “Not Our Circus, Not Our Monkeys”, Binance to WazirX user asking Rs 83 Cr
