• Transfers from Binance to WazirX have been disabled

  • Transfers from Binance to WazirX have recently been blocked. While the founders of Binance and WazirX continue to openly argue the Indian exchange’s ownership, CZ has made a significant move. Akuma, a blockchain investor, tweeted this Binance development with his over one lakh Twitter followers.

    “Just noticed Binance has disabled option to transfer funds from Binance to WazirX. However we could still easily transfer funds from Wazirx to Binance.”

    What Happens Now for Users After Binance-WazirX Transfers Are Stopped?

    Binance CEO CZ previously stated that his company could, but would not, take down the WazirX domain. CZ also requested that WazirX users transfer their funds to Binance. WazirX, on the other hand, has begun charging fees for such transfers. Several WazirX users who learned about Binance’s suspension of transfers expressed dissatisfaction with the decision.

    This complicates matters further, as CZ has already issued a warning regarding harsh action. However, he stated that Binance will not shut down the problematic cryptocurrency exchange because doing so would be detrimental to users. In this situation, WazirX users are going to social media to voice their worries. Most users are concerned about the protection of their funds in light of the ongoing conflict between the founders. This is also prompting second thoughts about continuing to store assets on WazirX. Some individuals believe that despite the charge, it is better to transfer to Binance. WazirX CEO Nischal Shetty, however, stated that all crypto assets INR on the platform are “safe for now.”

    WazirX user Abhishek Iyengar stated,

    “Transfer your coins to binance with some % fee. Better than losing all.”

    Another user, Divya Tejwani, advised customers to withdraw funds from WazirX just to be safe. They suggested transferring crypto holdings to Binance or other wallets as an option.

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