Off-chain transfers between WazirX and Binance disabled1 min read 08 Aug 2022, 11:18 PM IST
Off-chain transactions are used by crypto firms to avoid ‘gas fees’ on blockchains
The ED probe has shed light on the deal between Binance and WazirX in 2019. Then, both cos had announced Binance had acquired WazirX
Crypto exchange Binance, which had earlier said that it does not own equity in the operating entity behind Indian crypto exchange WazirX, said it had disabled “off-chain fund transfers between the two platforms from 8 am on 8 August. The move comes after the enforcement directorate (ED), on 5 August, said it had frozen assets of WazirX worth ₹64.67 crore.
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