WazirX founder Nischal Shetty responds to ownership dispute with Binance

Core Viewpoint - WazirX, an Indian cryptocurrency trading exchange, has resumed operations after a court-approved restructuring, following a significant exploit in July 2024 that resulted in a loss of $234.9 million [1]. Group 1: Ownership Dispute - WazirX was announced to be acquired by Binance in November 2019, but Binance later denied holding any stake in the exchange, leading to a prolonged ownership dispute [2]. - The ownership dispute has escalated into litigation, with both WazirX and Binance making conflicting claims regarding ownership [3][4]. - The current stage of the dispute is described as "he said, she said," with the outcome of the litigation expected to be crucial for both parties [4]. Group 2: Operational Focus - Following the hack in July 2024, WazirX's CEO, Nischal Shetty, has prioritized the restart of the exchange over addressing the ownership dispute [5][6]. - With operations now resumed, the company is entering a rebuilding phase, during which unresolved issues, including the ownership dispute, will be addressed [7].