In the aftermath of a July 2024 cyberattack that resulted in the loss of $235 million from WazirX users’ wallets, Binance has denied allegations that it bears any responsibility for the breach.
In an official statement, it emphasized that it neither owns nor operates the Indian platform and urged the team to take full accountability for the attack.
WazirX Hack Controversy
The controversy began when WazirX reported a hack targeting a multisig wallet that held user funds. The wallet, managed by five members of its team and one signatory from Liminal, a third-party custody provider, was compromised, resulting in the loss of millions of dollars worth of user assets.
The Binance statement clarified that it had no operational role in the compromised wallet or security at the time of the breach.
Following the incident, WazirX faced several withdrawal requests it couldn’t fulfill. On August 27, 2024, Zettai Pte Ltd, an entity linked to the exchange, sought a moratorium in Singapore’s Hig
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