Binance ceases off-chain fund transfer with WazirX

New Delhi, The world’s largest crypto exchange Binance, that disowned the Nischal Shetty-run crypto platform WazirX, on Monday said that it is removing the off-chain fund transfer channel between WazirX and Binance.
The crypto platform will cease to support off-chain fund transfers between WazirX Exchange and Binance via the “Login with Binance” option, Patrick Hillmann, Chief Communications Officer, Binance, said in a statement.
“Users will still be able to deposit and withdraw balances via the standard withdrawal and deposit process between Binance and WazirX,” he said.
Last week, after the Enforcement Directorate (ED) raids on WazirX’s parent company Zanmai Lab, Changpeng Zhao, Founder and CEO of Binance, had said that the company does not own any equity in Zanmai Labs, the entity operating WazirX and established by the original founders.