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Binance Publishes Proof of Reserves for Ten Cryptocurrencies as Oil Falls
Binance shares proof of reserves data with customers as withdrawals in US dollars resume.
Key points
- Binance shared proof of reserves data with customers.
- Binance says withdrawals are now available in US dollars.
- Scammers are targeting Binance customers with fake compensation claims.
Why it matters. The disclosure comes as customers have pulled billions from their Binance accounts after a $6.3bn hack, and scammers are targeting those customers.
Binance has shared proof of reserves data with its customers. The exchange says withdrawals are now available in US dollars, after customers pulled billions from their accounts following a $6.3bn hack. A Binance co-founder said the company's top priority is to ensure the environment is secure, while scammers have targeted its customers with fake compensation claims.
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Binance Publishes Proof of Reserves for Ten Cryptocurrencies as Oil Falls
Binance has released proof of reserves data covering ten cryptocurrencies. Co-founder Yi He said the exchange's top priority is to ensure user assets are secure. The disclosure comes as the crypto sector faces continued scrutiny over reserve transparency. Separately, oil prices fell sharply on Monday on hopes of a breakthrough in the Iran war. The Guardian is covering both developments in its rolling live coverage of financial news.