Arkham attributed about $4 million in deposits to hackers. SomaXBT said it was actually a Thorchain vault address. Who got it wrong?
Arkham’s exact claim was that the hackers deposited about $4 million into three Binance deposit addresses, and it speculated that these addresses belonged to third-party platforms. SomaXBT pushed back, saying the address labeled as belonging to the hackers was the Thorchain Asgard Vault, and that the deposits were paid for by Thorchain accounts. He also attached two related account addresses.
That same week, Citi pushed back its institutional Bitcoin custody plans, and VanEck’s Matthew Sigel said the Binance hack may have been one reason. Correcting a mistaken label takes just one line of text, but the cost falls on institutional timelines; if Citi subsequently launches custody as originally planned and no one cites the label again after Arkham corrects it, that conclusion no longer holds.
#Binance October 31 proof-of-reserves snapshot zero-knowledge proof generated
Arkham’s exact claim was that the hackers deposited about $4 million into three Binance deposit addresses, and it speculated that these addresses belonged to third-party platforms. SomaXBT pushed back, saying the address labeled as belonging to the hackers was the Thorchain Asgard Vault, and that the deposits were paid for by Thorchain accounts. He also attached two related account addresses.
That same week, Citi pushed back its institutional Bitcoin custody plans, and VanEck’s Matthew Sigel said the Binance hack may have been one reason. Correcting a mistaken label takes just one line of text, but the cost falls on institutional timelines; if Citi subsequently launches custody as originally planned and no one cites the label again after Arkham corrects it, that conclusion no longer holds.
#Binance October 31 proof-of-reserves snapshot zero-knowledge proof generated
