He Yi said that most recent large transfers were from Binance cold wallets to new hot wallets.
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He Yi: Recent large transfers were mostly from Binance cold wallets to new hot wallets
PANews November 1 reported that Binance co-founder He Yi replied to a user on X, saying that most recent large transfer transactions came from Binance cold wallets and were transferred to Binance's new hot wallets. Binance previously said it was strengthening withdrawal services and controls over relevant addresses, and planned to gradually resume withdrawals.
PANews reported that Binance co-founder He Yi replied to a user on X, stating that most recent large transfer transactions came from Binance cold wallets and were transferred to Binance's new hot wallets.
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Binance previously said it was strengthening withdrawal services and controls over relevant addresses, and planned to gradually resume withdrawals.
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The report was published by PANews on November 1.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Cold wallets and hot wallets are both used to store crypto assets. According to He Yi, these large transfers were transfers between Binance wallets, but the material did not provide details of the relevant addresses.
Why it matters to readers
This helps explain the official interpretation of some large transfers, but when withdrawal services will gradually resume remains unclear.
When large transfers appear at an exchange, distinguish between internal wallet transfers and outflows, and monitor withdrawal status and official statements.
Risks and unknowns
The material did not provide a link to He Yi's original post on X.
The material did not provide details of the relevant on-chain addresses, so the nature of the transfers cannot be independently verified.
The specific progress of Binance's withdrawal service resumption remains unclear.
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Related concepts
cold wallet
This term is not in the glossary yet. Browse related concepts in the glossary.
