WazirX CEO Nischal Shetty has confirmed that the long-standing ownership dispute between WazirX and Binance has now moved into the litigation phase.
The conflict centers around a key question: who actually owns and controls WazirX?
WazirX maintains that Binance acquired the exchange several years ago and holds ownership rights. Binance, on the other hand, continues to deny any ownership or operational control.
With both sides holding opposing positions, the matter is no longer being debated publicly. It is now being handled through legal proceedings, where documents and agreements will be examined by the courts.
This legal battle comes at a crucial time for WazirX, as the exchange is still recovering from a major security breach and working through restructuring and user fund issues. The outcome of this case could determine who is legally responsible for past operations, security decisions, and future obligations.
For users and the broader crypto market, this case could set an important precedent on how exchange ownership and accountability are defined in the industry.
