Analyst: Binance needs to buy back 204,500 ETH after reserve wallets drained, ETH backing near 94%

An analyst says Binance needs to buy back 204,500 ETH because the drained wallets were its reserve wallets. Citing Binance's October 1 proof of reserves listing Binance 14 among wallets backing customer balances, the post says the ~204,500 ETH taken leaves ETH backing near 94%.

Detected & updated continuously · Source: Nebula