A recent development has shed light on the possibility of WazirX exchange seeking assistance from Binance for fund management. Speculations surrounding this evidence have gained traction, with many backing the claims. Customers of WazirX have even gone as far as referring to the CEO as a superhero for his actions.
It was just four months ago when WazirX fell victim to a hack, resulting in the loss of nearly half of its funds, allegedly at the hands of the notorious Lazarus hacking group from Korea. In a surprising turn of events, the WazirX team has now revealed that they transferred their customers’ funds, likely for trading purposes, in order to rebalance the losses incurred from the hack.
The CEO of WazirX, Nischal Shetty, who was previously under fire for the hacking incident, is now being hailed as a hero and savior by those who were quick to criticize him. Messages of support and appreciation have flooded social media platforms, with users expressing their admiration for his dedication and efforts to rectify the situation.
While some have raised concerns about the ethical and legal implications of WazirX’s fund rebalancing activities, the majority seems to be in favor of the move, as it promises to fully compensate the affected customers.
Speculations have also emerged regarding the potential involvement of Binance in the matter. Neither Binance nor WazirX leadership has officially addressed these claims, but many believe that Binance could be playing a significant role behind the scenes. A recent report by a Crypto X user highlighted the on-chain relationship between Binance and WazirX, providing evidence that Binance’s wallets were utilized by the WazirX team to transfer a substantial amount of funds.
In light of these findings, a WazirX customer conducted a parallel analysis and reached out to Binance’s CEO, Richard Teng, urging him to confirm whether Binance is indeed assisting WazirX during this challenging period.
As the speculation continues to swirl, the crypto community eagerly awaits an official statement from both exchanges to shed light on the situation. The unfolding events have sparked rumors of Binance or another crypto exchange potentially coming to the rescue of WazirX, adding an air of excitement and anticipation to the crypto space.