Binance controls a surplus of WazirX’s revenue and its crypto token WRX, as per a report
It is pertinent to note that WazirX is involved in a legal battle with Binance. The talks between the two crypto companies are in early stages right now
Binance held $80 Mn worth WazirX tokens on the day of the crypto hack
Caught in the midst of a $230 Mn crypto heist, cryptocurrency exchange WazirX has reportedly approached Binance for help to bail out the affected customers.
Citing industry sources, Moneycontrol reported that Binance controls a surplus of WazirX’s revenue and its crypto token WRX.
It is pertinent to note that the exchange is involved in a legal battle with Binance.
“Their legal dispute is still ongoing. There are components of WazirX’s business which are still under Binance’s control, including the revenue — the surplus of it. Even its WRX token is under their control. So they have reached out to Binance and the talks are on but at early stages,” a source was quoted as saying.
Binance reportedly held $80 Mn worth WazirX tokens on the day of the crypto hack. This compromised WazirX’s capability to use its own funds to pay back some part of the customer assets.
(The story will be updated soon.)
