Changpeng Zhao (CZ), CEO of cryptocurrency exchange Binance named that customers who have crypto on WazirX should transfer it to Binance’s platform.
He stated in a Tweet that,
If you have money on WazirX, you need to transfer it to Binance. Simple as that. We could disable WazirX wallets on a technical level, but we can’t/don’t want to do that. And no matter how many debates we have, we cannot/will not harm users.
This news was followed by the Enforcement Directorate (ED), India’s law enforcement agency, who reported that WazirX assets had been frozen. WazirX is linked to the world’s largest crypto exchange Binance. This investigation was conducted because WazirX was suspected of violating currency regulations.