Massive Bitcoin Movement in Binance's Cold Wallet: What's Happening?
The movement in the wallets of Binance, the world's largest cryptocurrency exchange, has drawn attention.
According to on-chain data, there was significant movement in Binance's wallets at around 12:30 on August 27. A Binance cold wallet holding a total of 75,177 BTC transferred 30,000 BTC to a hot wallet belonging to Binance.
This cold wallet, which made a second transaction in a short time, sent another 45,177 BTC to a wallet named "3PXB... GKoc".
It is thought that these transactions are within the scope of internal wallet adjustments routinely performed by Binance. Cryptocurrency exchange Binance has not yet made an official statement about the transfers.
However, the exchange had made similar transfers in the past and made an official statement, stating that all of them were carried out within the scope of a planned study. Exchanges occasionally make wallet arrangements, creating space for themselves for liquidity and security transactions.
It is important for the exchange to make this announcement against possible FUD news. In the past, there was a sudden panic among users because the announcement was not made before the cold wallet arrangement, and the exchange had to make a statement immediately afterwards.
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