By Key Points
- Binance denies responsibility for Wazirx’s July hack losses.
- Wazirx’s management under Zanmai is blamed for the breach.
- Binance accuses Wazirx of deflecting from its own failures.
- Binance insists it gave enough notice to secure user funds before the hack.
Binance Denies Wazirx Hack Responsibility, Blames Zanmai Binance denies Wazirx hack responsibility, firmly stating that the losses from the July cyberattack lie with Wazirx’s management under Zanmai, not with Binance.
In a public response, Binance rejected claims made by Wazirx’s co-founders Nischal Shetty and Zettai, stressing that any attempt to shift blame is both misleading and irresponsible.
Binance insists that it bears no responsibility for the consequences of the hack, pushing back against accusations from Wazirx’s leadership.
BTCTN: Binance Rejects Wazirx’s Claims — Denies Responsibility for Hack Consequences https://t.co/hRUwU633YC
— Hudson Estell♠️ (@HudsonEstell1) September 18, 2024
Binance Denies Role in Wazirx Hack
The dispute centers on the hack that affected Wazirx in July, where users lost significant amounts of funds.
Wazirx pointed the finger at Binance, claiming that its actions contributed to the losses.
However, Binance denies Wazirx hack responsibility, stating clearly that Wazirx’s management team under Zanmai was in charge of protecting user funds.
In its response, Binance said:
“The security and protection of user funds is a fundamental responsibility of any cryptocurrency platform.
We urge the Wazirx team under Zanmai/Zettai to be accountable to Wazirx users and compensate them for the funds that have been lost under Zanmai/Zettai management.”
This statement underlines Binance’s stance that it is not at fault, and that Wazirx’s management should take full accountability for the incident.
Wazirx Accusations Rejected by Binance
Wazirx’s co-founder Nischal Shetty claimed that Binance was responsible for the aftermath of the hack because Binance requested that Wazirx user funds be removed from its wallets.
However, Binance denies Wazirx hack responsibility and emphasizes that it had provided adequate notice for Wazirx to move user funds long before the attack occurred.
Binance added:
“Mr. Shetty suggests that Binance is somehow responsible for the consequences of the cyber-attack because Binance requested that Wazirx user funds be removed from Binance wallets.
This is incorrect. Binance bears no responsibility for the consequences of the alleged hack.”
Binance went on to clarify that Wazirx had sufficient time to secure its users’ funds, but failed to act in time.
It reiterated that it was not responsible for holding Wazirx user funds indefinitely and that it had fulfilled its obligation by giving fair notice.
Accountability and Moving Forward
As this dispute between Binance and Wazirx continues, Binance denies Wazirx hack responsibility and maintains that Zanmai’s management must take ownership of the situation.
Binance also criticized Wazirx’s attempts to shift the blame, calling it a “disappointing deflection tactic” meant to distract from the real issue: Wazirx’s failure to protect its users’ funds.
Binance clarified that Wazirx’s management must address the situation and ensure that users are compensated for their losses, while also improving security.
The battle over responsibility continues, but for Binance, the message is firm — Wazirx must own its mistakes.
