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Cryptocurrencies: 28960
Markets: 114116
Market Cap: $2,557,594,794,866     
24h Vol: $95,209,059,350
cryptonews 2023-01-25 11:30:00

Binance Crypto Exchange Admits to Mixing Customer Funds with Collateral for Binance-Issued Tokens

Binance Crypto Exchange Admits to Mixing Customer Funds with Collateral for Binance-Issued Tokens
Major crypto exchange Binance kept collateral for some of the cryptoassets it issues in the same wallet as the customer funds by mistake, Bloomberg reported, citing a Binance spokesperson. On Monday, Binance released a proof-of-collateral report for B-Tokens, which are the 94 Binance-minted tokens. The report, however, showed that reserves for nearly 50% of all these coins that Binance issues, were at that point stored in a single wallet called 'Binance 8'. ... Read More: Binance Crypto Exchange Admits to Mixing Customer Funds with Collateral for Binance-Issued Tokens
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