Binance has denied any relationship with Indian exchange WazirX, noting that it never owned or controlled the crypto platform, which recently lost over $230 million to a hack. In a statement published on its website today,

Global cryptocurrency giant Binance has asserted that it never owned or controlled WazirX before or after the embattled Indian exchange was hacked in July that led to a security breach of more than $230 million.

In a dramatic turn of events following the $230-million hack on WazirX, global crypto exchange Binance has issued a public statement accusing WazirX's team and founder, Nischal Shetty, of misleading both the market and customers about their relationship.

Binance has released a statement distancing itself from the Indian crypto exchange WazirX, even as the latter claimed it had been acquired by Binance

Binance denies ownership and control of WazirX after the $235M hack, urging the Indian exchange to compensate affected users.

Binance, a leading global cryptocurrency exchange, has accused WazirX and its founder Nischal Shetty of providing misleading information to their customers. This accusation comes in the wake of a recent $230 million hack on WazirX.

WazirX founder Nischal Shetty and its legal advisory team had said in an earlier townhall that Binance given its disputed acquisition of the former, held majority of the revenues, cash flows or profits of WazirX parent Zettai restricting the former’s ability to repay affected customers from its own books.

Binance has clarified its stance regarding its role in the WazirX fiasco, distancing itself from the company, while accusing the Indian exchange’s management of misleading users. In a September 17 blog post,