Former Binance CEO Changpeng Zhao (CZ) recently revisited the controversy surrounding Indian crypto exchange WazirX in a recent post on December 2, 2024. CZ addressed regret over the situation, stating, “Sorry to hear about what happened. I was in a US prison when that happened.” The former CEO of binance reposted an old tweet with his condolences. This old tweet generated buzz as the community now question his intentions.
Community Question CZ’s Intentions
CZ actually commented on a tweet that was posted by him in 2022, advising users to transfer their funds from WazirX to Binance. “If you have funds on WazirX, you should transfer it to Binance. Simple as that.” Former CEO posted at that time, emphasizing his concern for user safety.
Despite the ongoing disputes between Binance and WazirX, the former CEO made it clear that Binance would not disable WazirX wallets at a technical level, reiterating, “We can’t/won’t hurt users.”
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The former CEO’s intentions are being questioned by the community because this old post was made back in 2022. Nobody knows for sure if there was a hidden agenda behind the warning or was he genuinely concerned about the users and believed that WazirX posed a risk to the users and wanted to alert them.
Binance and WazirX Relationship
The relationship between Binance and WazirX has been marked by public disputes over ownership and control. CZ’s latest comments suggest that he had done whatever he could to protect users but faced limitations due to external circumstances.
WazirX, had been hacked in July 2024, which resulted in a loss of $230 million in customer funds. Ever since, the exchange platform has been making efforts to restructure and has been looking for investors.
The users on the other hand are missing out huge profits on the bull run. They cannot book their profits nor can they withdraw the money. The Indian crypto community has hence been suffering since the hack.
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