Binance Denies Responsibility for WazirX Hack, Disputes Shetty's Claims

According to a blog post published by Binance, the platform claims that Zanmai-operated WazirX reported a cyberattack on July 18, 2024, resulting in an estimated $235 million in user funds lost. WazirX has reportedly been unable to fulfill customer withdrawal requests since the attack.

Binance further stated that Nischal Shetty, the primary owner of Zanmai, has made inaccurate statements regarding the ongoing dispute between Zanmai and Binance. Shetty claimed that Binance may be somehow responsible for the losses incurred by WazirX users and creditors due to the cyberattack. Binance refutes this claim, calling it misleading.

Binance asserts that it never acquired WazirX, despite signing a contract. The proposed deal was never finalized due to Zanmai's failure to fulfill its obligations. Binance emphasizes that it never owned, controlled, or operated WazirX, including before, during, or after the alleged hack.

Shetty also alleged that the outcome of the current dispute between Zanmai and Binance could potentially lead to Binance taking over WazirX. This, he claimed, would make Zanmai creditors into Binance creditors, placing responsibility for the hack on Binance. Binance again denies this, asserting that they do not own or operate WazirX, are not a party to the WazirX user agreement, do not hold any WazirX user funds, and bear no responsibility for the aftermath of the cyberattack. They maintain that Shetty's statements are inaccurate and misleading.