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

The major crypto exchange Binance kept collateral for some of the crypto assets it issued in the same wallet as customer funds by mistake, as reported by Bloomberg. On Monday, Binance released a proof-of-collateral repor...

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Binance Crypto Exchange Admits to Mixing Customer Funds with Collateral for Binance-Issued Tokens
The major crypto exchange Binance kept collateral for some of the crypto assets it issued in the same wallet as customer funds by mistake, as reported by Bloomberg.
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'. ...
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