India-based crypto exchange WazirX said Binance’s allegations against it are “false” and “unsubstantiated,” according to a Feb. 7 statement.
The exchange added that it was taking the necessary steps to seek recourse and protect its legal rights against the actions taken by Binance.
WazirX also allayed users’ fears about their funds. The exchange said:
“WazirX users do not have to be concerned about Binance’s announcement. We have made arrangements to ensure that WazirX’s digital assets are stored in accordance with industry-leading standards.”
Binance and WazirX’s operator Zanmai Labs have been engaged in a public spat over who owns the exchange since last year.
While Binance and its CEO Changpeng Zhao “CZ” have repeatedly maintained that they have no control over the Indian exchange’s operations and its users’ assets, WazirX co-founder Nischal Shetty said that Binance acquired and owned the exchange.
The disagreements culminated in Binance terminating its wallet services to WazirX on Feb. 3. The Indian exchange later transferred its assets to multi-sig wallets.
Binance was yet to respond to CryptoSlate’s request for comment as of press time.
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