Binance to transfer large amount of Bitcoin (BTC) to another address as part of its wallet maintenance

Binance, the world’s leading crypto exchange, has issued a warning about large-scale Bitcoin transfers due to routine wallet maintenance.

The exchange said it will be moving a significant amount of BTC to another address within its network. While announcing the move, the exchange reassured users that these transactions are part of internal operations and not indicative of any outward flow of funds.

For usual wallet maintenance, #Binance will be transferring a large amount of #BTC to another of our addresses.

These addresses can be found listed in our proof-of-reserves.

As part of the transfer, you will also see #BTC move to a new change address – this is not an outflow.

— Binance (@binance) March 5, 2024

The crypto exchange has taken the proactive step of informing users and the wider crypto community about the impending transfers, as the crypto hit its all-time high of $69,050 before dropping to around $67,000.

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