Binance, a major cryptocurrency exchange, has invited WazirX, an Indian crypto exchange run by Zanmai Labs, to withdraw remaining assets held in Binance wallets.
This move was aimed at reducing customer concerns about the fate of funds if Binance and WazirX end their partnership.
The invitation has escalated the ongoing feud between the two exchanges which began in August 2022 when Binance CEO claimed Binance had no ownership in Zanmai Labs, leading to the enforcement agency’s raid on WazirX co-founder’s property.
WazirX co-founder denied the claim and stated that WazirX technology was sold to Binance. Due to macroeconomic factors and harsh taxes, WazirX had to lay off 40% of its workers and 90% of user assets were held in Binance wallets.
Binance’s invitation came after giving Zanmai a choice to retract false public statements or terminate the use of Binance’s wallet services.
Since Zanmai refused, Binance gave the company until February 3, 2023, to remove funds and made an exception to allow for asset withdrawal.
