Co-founder of Indian Exchange WazirX Denies Zhao’s Claims

Nischal Shardeum, co-founder of Indian crypto exchange WazirX, has denied the recent statements by the Binance CEO Changpeng Zhao regarding the relationship of the platforms.

Zhao has previously stated Binance never held a stake in Zanmai Labs, the company behind WazirX.

He clarified the purchase of the Indian exchange announced in the message dated November 21, 2019 was never completed. On August 5 this year Binance representatives made a clarification in a press release, where it was about the acquisition of “certain assets and intellectual property.”

Zhao’s statements came after the Enforcement Department of the Indian Ministry of Finance suspected WazirX of laundering $350 million. According to media reports, the regulator froze the assets of the exchange for $8.16 million as part of the case.

Zhao wrote:

“Fact: We asked for WazirX System Source Code, Deployment, Operations, as recently as February of this year. We were denied this. Binance does not control these systems. WazirX has not collaborated with us and looks like she has not interacted with ED.”