Changpeng Zhao explained where Binance moved 127,351 BTC

Whale Alert analysts have drawn attention to the large volumes of cryptocurrency transfers on Binance. Today, 127,351 BTC were transferred from the platform’s address to an unknown cryptocurrency wallet (more than $ 2 billion, according to the exchange rate at the time of writing). Binance CEO Чанпен Чжао" href="https://noworries.media/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao explained that the bitcoins were transferred as part of a proof of reserve (PoR) audit.

This is part of the Proof-of-Reserve Audit. The auditor require us to send a specific amount to ourselves to show we control the wallet. And the rest goes to a Change Address, which is a new address. In this case, the Input tx is big, and so is the Change. Ignore FUD! https://t.co/36wUPphIZk pic.twitter.com/2NkH5L5J9j

— CZ 🔶 BNB (@cz_binance) November 28, 2022

«The auditor requires a specific amount of funds to be transferred from one Binance wallet to another as proof that we control all funds. Thebitcoins were moved to our new address,» Changpeng Zhao reassured users. Some members of the cryptocurrency community were seriously frightened, recalling that a few weeks ago, CZ advised against trusting platforms that carry out large crypto transactions.

On the eve of the information about the transfer of more than $ 2 billion, the head of Binance published several tweets with advice for crypto investors. Thus, Changpeng Zhao warned users about the upcoming wave of phishing scams that resulted from the hacking of the WhatsApp messenger user database. About 487 million WhatsApp user numbers are being sold on the Dark Web. «It has been verified that the phone numbers in the database are valid. Remain vigilant as hackers will use this data to conduct phishing attacks. Stay safe,» the Binance father advised users.

Later, CZ shared an article by HashDit on the most popular cryptocurrency fraud methods and ways to safely store digital assets. «Creating a secure cryptocurrency environment didn’t stop Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried. So learn ways to protect your funds," Zhao tweeted.