Binance 14

Binance 14

CIA Officer

Binance is collecting USDT to their Binance 14, and making USDT contract is the top gas spender 🤔


Now, officially:

TLDR: «in the process of consolidating funds from deposit addresses to our hot wallet to prepare for the next phase of our POR audit».

Looks like transfers from customer (hot) wallet to cold wallet:

Researchers wonder if that could be an API leak issue… Well, it definitely could be. 


However, there’s not enough information currently to tell ❗️

At the current rate it’s going, Tether is on its way to breaking $1M in daily Ethereum gas fees. Also, Binance has spent almost $400k and counting in ETH gas transfer fees (~$0.60 per address) in the past 24 hours, transferring funds in Ethereum from almost 10 million wallets to the Binance 14 wallet.

This seems odd and has been congesting the network all day:

So earlier today, it was only Binance that was spending a lot of gas by transferring ETH from millions of its own wallets to Binance 14. It wasn’t until recently that the USDT consolidation happened!

I’ll keep on watching!

December 9th, 2022

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