ChainCatcher reported that Binance posted a blog post stating that WazirX, operated by Zanmai, reported a cyberattack on July 18, 2024, resulting in approximately $235 million in user funds lost. WazirX has been unable to fulfill customer withdrawal requests to date.

Binance stated that Nischal Shetty, the main owner of Zanmai, made inaccurate statements regarding the ongoing dispute between Zanmai and Binance. Shetty claimed that Binance might somehow be responsible for the losses suffered by WazirX users and creditors due to the cyberattack. Binance said this is false and any such claims are highly misleading. Binance stated it did not acquire WazirX, and while a contract was signed, the proposed deal was never finalized due to Zanmai's failure to fulfill its obligations. Binance has never owned, controlled, or operated WazirX at any point, including before, during, or after the alleged hack.

Shetty stated that the outcome of the current dispute between Zanmai and Binance could result in Binance owning WazirX, which would make Zanmai's creditors Binance's creditors, implying that Binance would be responsible for WazirX users. To this, Binance believes this statement is incorrect. Binance does not own or operate WazirX, is not a party to the user agreement between WazirX and its users, does not hold any WazirX user funds, and is not responsible for the consequences of the cyberattack. Shetty's statements are inaccurate and misleading.