PiCK
$2.77 Billion Flows Out of Binance-Linked Wallets Across Five Blockchains; Hacking Unconfirmed
Summary
- Outflows totaling $2.77 billion were observed from Binance-linked wallets across five blockchains.
- The large fund outflows prompted suspicions of asset theft, but whether it was a hack has not been confirmed.
- With no official confirmation so far, it is difficult to conclude that the observed outflows represent actual losses.
Forecast Trend Report by Period
Outflows totaling $2.77 billion were observed from wallets linked to cryptocurrency exchange Binance across five blockchains. The large fund movements prompted suspicions of asset theft, but it has not been confirmed whether the transfers were tied to a hack.
Walter Bloomberg reported on October 29 that on-chain transaction records from Binance-linked wallets showed large outflows across five blockchains.
The total value of the outflows was estimated at $2.77 billion. It remains unclear whether the transfers resulted from an actual hack or were movements between wallets for another purpose.
With no official confirmation so far that a hack occurred, it is difficult to conclude that the observed outflows represent actual losses.
JH Kim
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