On Diwali, WazirX Users Appeal to Binance’s Former CEO CZ for Support Amid Ongoing Struggles

The majority of Crypto X users with funds on the WazirX crypto exchange asked Changpeng Zhao (CZ) to intervene in the ongoing WazirX vs. Binance dispute.

WazirX was once a popular crypto exchange in India. 3.5 months ago, the exchange was hacked, losing more than 50% of customers’ funds. Since the hack, the exchange’s services have been suspended. Amid this financial struggle, the Binance vs. WazirX dispute has intensified, with WazirX CEO Nischal Shetty addressing the issue several times in town hall discussions.

On 31 Oct 2024, Binance’s former CEO CZ extended Diwali greetings to Indian crypto investors, which received significant attention.

Many WazirX customers requested CZ to address the WazirX vs. Binance dispute over exchange ownership and urged him to resolve the matter as soon as possible.

They asked CZ to at least provide some insight into the dispute, questioning why it has taken so long to resolve and why Binance froze WazirX’s $17 million.

With this growing pressure on Binance’s CZ, it will be interesting to see what steps he may take in favor of WazirX customers. Once WazirX was a property of Binance, and there still seems to be a deep connection, prolonging the dispute.

WazirX Hacker Activity

According to an investigation by the crypto transaction tracking platform Crystal Intelligence, the WazirX hacker successfully laundered all the stolen funds and converted them into Bitcoin.

Currently, there is little chance for WazirX leadership to recover the hacked funds unless the hacker shows any willingness. Some Indian enforcement agencies are looking into the matter to identify the main culprit and hacker involved.

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