Quote from: Darker45 on Today at 02:17:33 AM

LOL!

This should be a wake up call to WazirX users. This should also be another wake up call to everybody else who is using centralized exchanges.

The custodian you particularly trust your money with has another custodian to take care of the same money. You entrust your funds to custodian A, but custodian A entrusts the money to custodian B which, in turn, entrusts the money to custodian C, and then to D, E, F, G, H, I, J, and so on until Z. LOL!

So many levels of trust. Not to mention that the money is not really in custody because they're actually risked somewhere else.

I hope WazirX's reserve in Binance is not 99% in BNB and the other 1% in BUSD. LOL!

WazirX is acquired by Binance since last year. Probably CZ wants to play safe in case India Government attack again the crypto exchange and froze there assets. There are reports before that this exchange bank account being frozen. India government is so persistent on taking down all business that involves crypto.

This is a bold move by CZ and it involves a lot of risk especially a panic by the public knowing there money is not really on the WazirX exchange.