Home / Bitcoin / The CEO of Binance confirms that "the funds are SAFU" as the panic of the community on the transfer of millions of funds

The CEO of Binance confirms that "the funds are SAFU" as the panic of the community on the transfer of millions of funds

One of the biggest crypts exchanges in the world, Binance, announced a month ago that it will transfer some funds between our cold portfolios. According to the plan, millions of funds have been transferred out of the exchange. However, despite the preliminary announcement, some have started to panic about the sudden transfer of funds.

A Redditor named Bitfinexit has identified the unexpected unusual activity on the crypt exchange that involves the transfer of millions of funds. Soon, he published on Reddit, "Possible rupture of Binance, over 1 billion USD coins transferred".

He provided the link to the Twitter account of Whale Alert which is known for tracking large cryptographic transactions to and from exchanges. Whale Alert tweets have shown that in the last hours more transfers of criptos have been transferred from Binance to an unknown portfolio. And, the amount of the transfer ranged from $ 500,000 to over $ 512 million.

One of the community members faced Binance CEO Changpeng Zhao (CZ). He was ready to respond, "Nothing to worry about." Check the Tx logs, very well from the new address to our old wallets.There is no need to spread FUD.We are constantly working to further strengthen our security. "
In another tweet, CZ has linked to his previous tweet of anouncement in which he wrote: "A revealing sign of a new cold wallet on Binance are two small transfers from and BACK TO to an existing portfolio, so a big transaction. you need to be alarmed.The funds are #SAFU. "

In other news, eToro, social trading and investment platform has recently published a research paper on Binance Coin [BNB] and classified the currency as a utility as well as a security. The research paper talks about the possible investors of the digital heritage and its future prospects. This research comes soon after eToro listed on Coin Coins (BNB) in October. It became the first external exchange that listed the Binance token.

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