WazirX founder: Long-standing ownership dispute with Binance enters formal litigation stage

According to ChainCatcher, Nischal Shetty, founder of WazirX, India's largest cryptocurrency exchange, confirmed that his long-standing ownership dispute with Binance has entered formal litigation. The dispute dates back to Binance's announcement of its acquisition of WazirX in 2019, but the two sides have since engaged in numerous public clashes over controlling stakes and operational rights. Shetty stated that they are currently "each sticking to their own version of events," and the outcome of the litigation is crucial. In addition, Shetty also addressed the dispute with custodian Liminal. WazirX attributed part of the responsibility for the 2024 hack (which resulted in losses exceeding $230 million) to its multi-signature custodian infrastructure, but Liminal has publicly refuted this and released data to question its claims.