Millions of funds transferred from Binance, CZ confirms funds are SAFU

29 Nov, 2018 | Updated: 29 Nov, 2018
by Fifi Arisandi
Exchange
Millions of funds transferred from Binance, CZ confirms funds are SAFU

Millions of funds are transferred out of Binance, CZ confirmed that it's according to the plan, which is announced a couple of days ago.

A Redditor that goes with the name /Bitfinexit spotted unusual activities on Binance that involved the transfer of millions of funds.

His post on /CryptoCurrency, titled “Possible Binance breach. Over 1Billion USD worth of coins transfered out” also provides the link to the Twitter account of Whale Alert that tracks large crypto transactions from and to exchanges for popular cryptos, such as BTC, ETH, and XRP as well as other ERC20 tokens.

Possible Binance breach. Over 1Billion USD worth of coins transfered out from r/CryptoCurrency


From the link, it can be seen that in the past 3 hours there have been multiple transfers of cryptos from Binance to unknown wallet, with amount ranged from $500,000 to over $512 million.

The smallest was 177,855 EOS, which is around $551,295, while the largest was 98,776,172 BNB, which is approximately $ 512,314,962, all happened within the same hour.

When a Twitter user confronted Binance’s CEO, Changpeng Zhao about the matter, he confirmed that all funds are SAFU by giving a link to his previous tweet that informed about Binance’s plan to move some funds between their cold wallets.

Furthermore, he added that there’s nothing to worry about and no need to spread FUD, while also expecting that he won’t need to retweet his previous announcement for so many times.


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