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Binance holds token collateral and user funds on same wallet by ‘mistake’

Published 01/24/2023, 08:27 AM
Updated 01/24/2023, 10:20 AM

Major cryptocurrency exchange Binance reportedly admitted that it mistakenly stores some customer funds in the same wallet with its collateral for some in-house tokens. After the revelation, Binance started the process of transferring the assets in question to dedicated collateral wallets.

Binance mistakenly put collateral for some of the Binance-minted tokens, or B-Tokens, in a wallet that also holds customer assets, Bloomberg reported on Jan. 24.

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