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WazirX denies Binance bailout amid speculation about large fund Movement

WazirX clarifies fund movements: WazirX management clarified that the recent fund Movement, totaling 200 million USD, is a token rebalancing effort, not a bailout by Binance after a 2,000 crore INR hack. Users remain skeptical despite assurances.

Speculation around Binance involvement: The transfer raised concerns about Binance compensating users, with CEO Changpeng Zhao advising fund withdrawals. His distance from WazirX has left over 4.4 million users questioning their investment safety and the true intent behind the fund transfers.

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