Binance Responds To Forbes’ False Claims For Misappropriating Users’ Money
Binance posted on its official blog a response to an article accusing Binance of embezzling nearly $1.8 billion in USDC collateral in 2022 from Forbes on Feb. 27. According to the regulator that is completely untrue. The company also asserts that there is absolutely no misappropriation of customer funds.
According to Forbes citing on-chain data, Binance embezzled $1.78 billion worth of B-Peg USDC collateral between August 17 and 24, 2022, where the asset was worth $1.78 billion. $1.1 billion was transferred with high frequency to the trading company Cumberland/DRW, and the remainder went to Amber Group, Alameda Research and Tron founder Justin Sun. Regarding the transfer to the address of Amber Group, Alameda Research and Justin Sun mentioned in the Forbes article are all spontaneous acts of these organizations users or individual users.
Source
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