WazirX Founder: Long-Term Ownership Dispute with Binance Enters Formal Legal Proceedings

BlockBeats News, December 27th, Nischal Shetty, the founder of India's largest cryptocurrency exchange WazirX, confirmed that the long-standing ownership dispute with Binance has entered a formal litigation stage. The dispute dates back to 2019 when Binance announced the acquisition of WazirX, but since then, the two parties have had multiple public disagreements regarding ownership and operational rights. Shetty stated that they are currently at a "he said, she said" stage, and the outcome of the litigation is crucial.

Furthermore, Shetty also addressed the dispute with the custodial firm Liminal. WazirX had previously attributed part of the responsibility for the 2024 hack (resulting in a loss of over $230 million) to its multi-signature custody infrastructure, but Liminal had publicly refuted this claim and released data challenging it. (Cryptopolitan)