CZ Refutes Claims That Binance Sent 127K BTC to Unknown Wallet
CoinEdition
Published Nov 28, 2022 12:45PM ET
Updated Nov 28, 2022 01:00PM ET
CZ Refutes Claims That Binance Sent 127K BTC to Unknown Wallet
- Changpeng Zhao clarified that the huge transaction was a part of the Proof-of-Reserve Audit.
- He added that the auditor asked Binance to send a specific amount to itself to show that they control the wallet.
- Binance’s Proof-of-Reserves has been under constant scrutiny since its launch.
Founder and CEO of crypto exchange Binance, Changpeng Zhao refuted claims that 127,351 Bitcoin (2,062,504,721 USD) were transferred from Binance to an unknown wallet.
Twitter handle, WhaleAlert which is a tracker and analytics system tweeted about the ‘suspicious’ transaction.
The CEO concluded as he asked users to be alert and not believe fear, uncertainty, doubt(FUD)all the time.
Looks like every move from the leading crypto exchange Binance is under constant scrutiny after the FTX debacle. Binance’s newly introduced Proof-of-Reserves was recently said to be devoid of “proof-of-liabilities”. To this, CZ clarified that there is no negative balance involved in PoR.
The post CZ Refutes Claims That Binance Sent 127K BTC to Unknown Wallet appeared first on Coin Edition.
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