“Binance is responsible for the quarterly burning of WRX tokens.
The last WRX burn – the seventh for the quarter from October through December 2021 – was conducted by Binance on March 9, 2022.
Binance has not conducted a quarterly burn in the last five quarters, that is, since January 2022,” WazirX reported.
Platform officials also said that Binance is holding back all IEO revenue, which amounted to 108,401 BNB.
In February, Binance said it no longer controlled WazirX user funds or any other operations of the site, as well as its operator Zanmai Labs.
The move comes after a public debate between Binance and Zanmai over Binance’s participation in the management of WazirX;
Binance demanded that WazirX withdraw its application, otherwise its wallet service on the exchange will be terminated.
However, no rebuttal was made by WazirX. As a result, the conflict of interest led to a complete breakdown in cooperation.
Earlier, Indian law enforcement authorities accused WazirX and its management of aiding and abetting money laundering.
By decision of the authorities, millions of users’ funds were frozen on the exchange during the investigation.
It was then that Binance began to distance itself from the Indian exchange and stated that it had no influence on its management.