Changpeng Zhao (CZ), CEO of crypto exchange Binance Referred Customers who have cryptocurrency on WazirX must transfer it to the Binance platform.
He stated in a tweet that,
If you have money on WazirX, you must transfer it to Binance. So easy. We can disable WazirX wallets on a technical level, but we can’t/we won’t. As much as we tolerate arguments, we cannot/will not harm users.
This news was followed by the Enforcement Directorate (ED), which is India’s law enforcement agency, with its notification of the freezing of WazirX’s assets. WazirX has been linked to the world’s largest crypto exchange Binance. This investigation was conducted on suspicion of WazirX violation of foreign exchange rules.