The post Binance Refutes Wazirx Allegations, Emphasizes Responsibility for Lost User Funds Lies with Zanmai/Zettai appeared on BitcoinEthereumNews.com.

The recent dispute between cryptocurrency platforms Binance and Wazirx has taken another turn with Binance addressing what they describe as “inaccurate and misleading statements” made by Wazirx and its managing entities, Zanmai and Zettai. Binance has clarified that it holds no responsibility for the lost user funds that Wazirx users experienced, shifting the accountability firmly onto Wazirx’s management under Zanmai and Zettai. In a statement, Binance urged the Wazirx team to compensate their users for the lost funds, underscoring the fundamental responsibility of any cryptocurrency platform to safeguard user assets. Dispute between Binance and Wazirx Reveals Cracks in Crypto Management, Binance Calls for Accountability Binance Addresses Misleading Statements and Clarifies Responsibility In a detailed response, Binance has refuted claims made by Wazirx about the mishandling of user funds. Binance’s statement emphasizes that the security and protection of user assets are of paramount importance, urging Wazirx’s management under Zanmai and Zettai to fulfill their duties towards their users. The dispute centers on Binance’s contention that the loss of user funds is a direct result of Wazirx’s mismanagement, not Binance’s policies or actions. Wazirx’s Accountability Under Scrutiny Amidst the ongoing contention, Binance has criticized Wazirx’s co-founder Nischal Shetty’s assertions that Binance bore some responsibility following a cyber-attack in July. Binance has firmly denied any such responsibility, clarifying that Wazirx had been given sufficient notice to remove its user funds from Binance wallets prior to the incident. Binance maintains that any failures in removing these funds lie squarely with Wazirx’s team. Separating Dispute from User Accountability While acknowledging the existing dispute between Binance and Zettai, Binance’s statement pointedly notes that this legal battle should not detract from the primary issue at hand—the accountability of Wazirx’s management regarding the lost user funds. Binance’s message is clear: shifting blame does not resolve the fundamental issue,…

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Filed under: News - @ September 18, 2024 1:12 am