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Binance is short $1.3 billion dollars in wrapped tokens on their Binance Smart Chain

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by COINS NEWS 324 Views

They have 90k in wrapped BTC and 1.3mill in ETH but only showing 73k BTC and 1.04mil ETH in their "proof of assets." Clearly showing here: https://www.binance.org/en/assets-proof

This means the wrapped assets are not backed 1:1 and that they're basically missing ~17000BTC and ~265k ETH which amounts to roughly $1.3 billion USD with todays prices.

I've asked my friends who are deep in this industry and they can't figure out why there's such a discrepancy. Unless someone can explain, this is a very big warning sign.

submitted by /u/Antranik
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