Binanse blocked Wasabi. What’s the matter?
The largest cryptocurrency exchange Binance unexpectedly stopped working with Wasabi online wallet. A popular repository for digital currency is probably used by many of our readers, which is why you need to figure out what is behind the refusal to cooperate. Without further ado, let’s get started.
A bit about Wasabi
First, discuss Wasabi, so that everyone is better immersed in the situation. Real wallet users can skip this section. So, Wasabi is a cryptocurrency repository with enhanced security. The service places Bitcoins. The developers claim that their project is much more reliable than analogues. Open source allows you to verify the correctness of their words. The wallet client has versions for popular operating systems. Everyone can download the stationary application for Windows, Mac OS and Linux. The wallet is quite easy to learn, even a novice will be able to work productively with the program.
Many serious experts and ordinary users call Wasabi the most balanced solution for working with Bitcoins. However, the wallet name has already been encountered in various scam projects. Just 9 months ago, scammers were able to steal a certain part of the program code of the program and create their own analogue. Of course, the fake stole the data and money of its users, but the conflict was quickly resolved. But today, Binance has disabled the withdrawal of earnings on the Wasabi Bitcoin wallet.
Now, having understood the whole theory, we proceed to the immediate event.
What is the reason for blocking?
The creators of the project may sell personal data of customers. A user under the nickname Catxolotl noted that he had problems with the withdrawal of funds. If you believe his words, the system requests too much additional information about the client, which compromises confidentiality. Binance is very sensitive to user comments. So the exchange almost immediately accepted sanctions against Wasabi. Withdrawals are still not available, which is why we strongly advise you to have another wallet. Withdraw money to a third-party resource until things get better.
Making any forecasts is quite difficult. Because it is not really clear yet whether Wasabi tried to get personal data or not. The creator of the wallet denies problems with his own project. He is saying that the actions of Binance are a terrible and first-of-a-kind precedent. According to Adam Fichor, the main developer of the wallet, before that, there were no problems with Binance. The exchange was going to invest money in the wallet and develop relations in every possible way. But now that the blow to Wasabi’s reputation has been dealt, further collaboration is in question.
Last month, Wasabi get $337,500 from Cypherpunk Holdings. The client continues to update, a new version has recently been released. However, until the situation is resolved, you should suspend work with Wasabi. Still, there is a likelihood of improper developer behavior. Which is why you should be on your guard.
In any case, it is better to protect your finances from the wrong transaction. And withdraw money to another wallet. Follow the development of events and the news of the crypto industry with us. We publish only interesting and relevant material. Thank you for your attention. Good luck!