Binance Handled $346M In Bitcoin Transactions For Russian Exchange Bitzlato: Reuters

Binance Confirms Error Involving B-Tokens And Customer Asset Storage

A Bloomberg report said that crypto’s largest centralized exchange erroneously stored customer funds and token collateral in the same wallet. The leading exchange kept collateral for tokens issued on its Binance Smart Chain or BNB Chain network and user assets in a “single wallet called Binance 8”.

It’s unclear when CZ’s company spotted the issue but the juggernaut crypto platform is already working to resolve the matter, per the report. 

Binance 8 is an exchange cold wallet. Collateral assets have previously been moved into this wallet in error and referenced accordingly on the B-Token Proof of Collateral page. Binance is aware of this mistake and is in the process of transferring these assets to dedicated collateral wallets.

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