COINOTAG News, December 27, reports that WazirX founder Nischal Shetty confirmed the ownership dispute with Binance has moved into formal litigation. The case traces to Binance’s 2019 acquisition announcement, with both sides advancing competing claims over control, governance, and operational rights. The escalation to a courtroom process heightens regulatory and strategic risk for India’s largest crypto exchange, and the verdict will shape future cross-border cooperation and licensing negotiations.
Separately, Shetty addressed tensions with custodial firm Liminal. WazirX previously attributed part of the 2024 hack—believed to exceed $230 million—to its multisignature custody framework, a claim Liminal publicly refuted, releasing data to counter it. The dispute highlights ongoing scrutiny of custody architectures and their role in exchange security and resilience.