About Fund Transfer between Binance & WazirX

Binance has always adhered to the principle of “protecting users” and always pays attention to the voice of the community. Recently, due to the regulatory action taken by the relevant authorities against Zanmai Labs Pvt Ltd, the operator of WazirX, Binance noticed that some users mistakenly believed that the assets deposited into WazirX were managed by Binance, but this was not the case.

To better protect users and provide users with clearer information, Binance is removing the off-chain asset transfer channel between WazirX and Binance. Starting from 11:00 on August 11, 2022 (East 8th District Time), Binance will no longer support off-chain asset transfers between the WazirX trading platform and Binance through the “Login with Binance” option. Users can still deposit and withdraw between Binance and WazirX through the standard deposit and withdrawal process.

In the future, Binance will support Indian regulators in matters related to WazirX. Binance believes that maintaining an open dialogue with regulators, policymakers, and the law enforcement community will help jointly build a global regulatory framework for the industry.

Go to Binance’s Official Website