A Binance wallet spent 530 Ether, worth $843,797, in Ethereum gas fees within 24 hours.
to a wallet belonging to Binance called “Binance 14,” which spent almost $1 million on ETH network gas prices.Members of the community expressed their opinions on the huge gas fees spent by the exchange. Web3 investor Belinda Zhou described Binance engineers as"incapable," and said that they've got the configuration wrong and set the gas allowance too high.
Adam Cochran, a partner at venture capital firm Cinneamhain Ventures, believes that the unusual gas fees were a result of substandard APIs. The executive the exchange's technology and shed doubt on its ability to keep"hundreds of billions in coins across multiple protocols" safe.that they were doing their wallet aggregation process when the gas fees were low to ensure the safety of user funds.
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