OKX questions Binance withdrawal figures amid custody concerns
OKX has challenged Binance's reported 2% outflow figures following recent security disruptions. Meanwhile, the Pepeto token project reports $11.2 million in presale funding.
OKX representatives have questioned Binance’s reported 2% outflow figures, suggesting that the metrics fail to address broader security concerns. The dispute follows recent volatility in Bitcoin pricing and a security breach of Binance’s hot wallets, which forced the exchange to suspend withdrawals for approximately 57 hours starting in late October.
Binance has not added a new spot coin since the listing of PREDICT on October 29. The exchange maintains that it operates in stages, but the recent incident has prompted intensified scrutiny regarding the custody of assets held on centralized exchanges.
In the lead-up to potential future listings, the meme-token project Pepeto reports having raised $11.2 million through its presale. The project is developing a cross-chain bridge intended to facilitate transfers without the platform holding user assets, positioning the tool as an alternative in the current climate of exchange-related custody disputes.