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

The founder of India's largest cryptocurrency exchange WazirX, Nischal Shetty, confirmed that the long-standing ownership dispute with Binance has entered formal litigation. The dispute dates back to 2019 when Binance announced its acquisition of WazirX, but the two parties have since publicly "clashed" multiple times over control and operational rights. Shetty stated that both sides are now "sticking to their guns," and the outcome of the lawsuit is crucial. Additionally, Shetty responded to the dispute with the custodian Liminal. WazirX had attributed part of the responsibility for the 2024 hacking incident (which resulted in losses exceeding $230 million) to its multi-signature custody infrastructure, but Liminal publicly rebutted this and released data to question it.