Changpeng Zhao (CZ), CEO of cryptocurrency exchange Binance mentioned that customers who have crypto on WazirX should transfer it to Binance’s platform.
He stated in a Tweet that,
If you have funds on WazirX, you should transfer it to Binance. Simple as that. We could disable WazirX wallets on a tech level, but we can’t/won’t do that. And as much debates as we are enduring, we can’t/won’t hurt users.
This news was followed by Enforcement Directorate (ED), the law enforcement agency of India notifying that WazirX assets were frozen. WazirX has been linked to the world’s largest crypto exchange Binance. This investigation was carried out as WazirX was suspected of violation of foreign exchange regulations.