1. Binance Denial of Ties with WazirX
2. Clarification on WazirX Ownership Structure
3. Partial Fund Recovery for WazirX Users

Binance has issued a statement denying involvement in the ownership or management of the Indian cryptocurrency exchange WazirX. This comes after the exchange suffered a significant hack resulting in the loss of funds.

Binance Denial of Ties with WazirX

Binance publicly refuted claims made by WazirX co-founder Nischal Shetty that Binance owns and controls the Indian exchange. In its statement, Binance called these claims misleading and urged the WazirX team to take responsibility for the lost funds.

Clarification on WazirX Ownership Structure

Binance's statement explains the ownership structure of WazirX, noting that Zanmai Pvt Ltd. fully owns the Indian exchange, and this is acknowledged by the Indian Directorate of Enforcement. Zettai Pte owns Zanmai, and Nischal Shetty holds stakes in both companies. Although Binance once signed a contract to purchase WazirX, the acquisition never took place due to Zettai failing to meet its obligations under the agreement.

Partial Fund Recovery for WazirX Users

WazirX users affected by the recent hack stand to recover only half of their assets. According to the current proposal, users will recover about 57% of their crypto portfolio. However, many users are unhappy with this proposal, claiming that the exchange and its shareholders did not provide any compensation.

Binance's response to the claims of controlling WazirX emphasizes their lack of responsibility for the recent troubles of the exchange. The future of WazirX users remains uncertain as only a partial return of funds is being offered.