WazirX users left in the lurch as Binance unplugs off-chain transfers to the crypto exchange
After a war of words on Twitter about the ownership of WazirX, Binance has removed off-chain crypto transfers to WazirX, a popular feature among users.
Responding on Twitter, Binance CEO Changpeng Zhao (known as CZ) said that he is not sure who started the feature but added, “I think it came at a time when ETH gas fees were $10 per transfer.”
Off-chain transactions refer to those on a cryptocurrency network that move the value outside of the blockchain. Due to their zero/low cost, off-chain transactions have been gaining popularity.
Speaking to Moneycontrol, WazirX founder Nischal Shetty said that the acquisition deal with Binance was closed and nothing had changed since then.