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Binance stated that it has updated its Proof of Reserves address list and that subsequent withdrawals will be processed through new wallet addresses.
Binance updates its Proof of Reserves address list to include newly generated wallet addresses
PANews November 1 According to a Binance announcement, as part of ongoing security measures, Binance has updated its “Proof of Reserves” address list to include newly generated wallet addresses. Going forward, all withdrawal operations will be processed through these new wallet addresses.
Source: https://www.panewslab.com/zh/articles/01a195eb-a606-73e1-b139-bb6dc3afe105
PANews reports that Binance has updated its “Proof of Reserves” address list.
The update includes newly generated wallet addresses.
Binance stated that all withdrawal operations will henceforth be processed through these new wallet addresses.
The following is analysis, separate from reported facts. Verify important claims independently.
In short, Binance has replaced and added wallet addresses used for Proof of Reserves and withdrawal processing.
Users may subsequently monitor whether these new addresses appear in the Proof of Reserves and whether withdrawals function normally.
Proof of Reserves is used to display the platform’s relevant wallet addresses and asset holdings; withdrawal addresses are wallet addresses used to process users’ token withdrawals.
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A verification method used to check whether custodians such as exchanges hold sufficient funds corresponding to their customers’ assets.
View glossary →The destination information that must be verified when receiving or sending cryptocurrency; transfers are generally irreversible if it is entered incorrectly.
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