Binance, the world’s largest cryptocurrency exchange, has denied Forbes claims that $1.8 billion in client assets were transferred to hedge funds without permission.
In a recent article by Forbes, Binance had last year to support its clients’ stablecoins. $1.8 billion collateral It was alleged that he transferred it to hedge funds without permission. The Binance team, which rejected the claim in question, transactions are related to on-chain internal wallet management stressed.
While Binance has previously acknowledged that wallet management processes for these token collaterals are not always seamless, collateralization of user assets has never been affected. The processes for managing our collateral wallets have been fixed long term and can be verified on this chain.
In the details of Forbes’ claims, Binance’s mentioned guarantee Alameda And Cumberland It is seen that he transferred it to hedge funds such as On the other hand, between the wallets to which the funds are transferred TRON (TRX) founder Justin SunIt is noteworthy that .
From mid-August to early December of 2022 covering blockchain data up to allegedly, $1.8 billionThe assets were transferred in this direction, and contrary to what users thought throughout the process, the assets were not collateralized and secure.
Binance chief strategy officer Patrick HillmanIn his response to Forbes, moving money between different wallets there is no problem and stated that it is done frequently in the company.
As stated in the statement made by the spokesperson, past mistakes in the guarantee process have been previously accepted by the team and more is needed to prevent this from happening again in the future. a transparent and sustainable system had been activated.