After India's Enforcement Directorate (ED) raided one of the directors of crypto exchange WazirX and froze their bank accounts on Friday, a war of words erupted between Binance CEO <a href="https://www.cryptoknowmics.com/news/changpeng-zhao-emphasizes-the-need-for-bitcoin/" target="_blank" rel="noopener">Changpeng Zhao</a> (CZ) and Nischal Shetty founder of WazirX, an India-based crypto exchange on Twitter. While Shetty claimed that WazirX is acquired by Binance, CZ refuted that Binance has no control over the Indian crypto exchange.

Notably, on August 2, 2022, ED in their <a href="https://enforcementdirectorate.gov.in/sites/default/files/latestnews/PR%20HYZO_Freezing%20of%20assets%20of%20WazirX%20Crypto%20Exchange.pdf" target="_blank" rel="nofollow noopener">press release</a> said that the agency conducted raids on one of the directors, and froze their bank balances to the tune of INR 64.67 crore. Following the raids, Shetty and CZ took to Twitter to blame each other for the alleged discrepancies, and ownership dispute.
<h2>WazirX Denied Binance Access to System Source</h2>
After Nischal Shetty on his official Twitter account claimed that WazirX is owned by crypto exchange Binance, CZ responded with a series of tweets asserting that Binance never acquired WazirX as their request to transfer system source code, deployment, and operations were denied by WazirX. Zhao tweeted,
<blockquote><em>"We asked for transferring of WazirX system source code, deployment, operations, as recently as Feb this year. This was refused by WazirX."</em></blockquote>
<h2>Binance Has No Control Over WazirX: CZ</h2>
Reacting to Shetty's Tweet which claimed that Binance has root access to the AWS servers, and owns all the crypto assets and profits generated from them, CZ revealed that his trading exchange does not have any control over the systems of WazirX by tweeting,
<blockquote><em>"Binance does not have control on their systems."</em></blockquote>
Taking a jibe at WazirX, he went on to say that the Indian crypto exchange was not cooperating with Binance on the acquisition and blamed them for also not cooperating with the ED.

Binance Does Not Have Control Over WazirX, Claims CEO CZ

After ED raided one of the directors of WazirX and froze their bank accounts, a war of words erupted between Binance CEO CZ and Nischal Shetty.

Sanjay Shukla is a Content Writer with Cryptoknowmics, India's biggest media platform in crypto. He has more than 8 years of experience in the Business and Finance domains. Sanjay writes excellent content on cryptocurrencies, trading, Bitcoin, and the share market, to help the readers have deep insight into the topic.

Binance Does Not Have Control Over WazirX, Claims CEO CZ

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