Binance to Donate $1M to Japanese Flood Victims

Changpeng Zhao called cryptocurrency community for donations
09 July 2018   745

Binance, the largest in terms of trade transactions, has donated $ 1 million to flood victims in Japan, and invites other companies and individuals to join the charity initiative.

Our hearts go out to the victims in West Japan. Binance will begin with a $1,000,000 USD equivalent donation in either BNB, BTC, or JPY. We also ask our crypto partners to join us and help our friends in need.
 

Changpeng Zhao

CEO, Binance

Changpeng Zhao noted that the exact scheme for transferring funds to the flood victims will be determined in the very near future. Those who also want to make a donation, are invited to a Twitter reply, while such a gesture of good will will be taken into account when considering their coins listing on Binance. Such a donation can be done in ETH or ERC-20 tokens.

A major flood in Japan this week was caused by a typhoon that caused heavy rainfall. According to themedia, as of Monday mornng the number of deaths due to torrential rains and landslides reached more than 100 and many are reported missing.

Binance to Froze WEX Related Accounts

Measures were taken in response to requests from WEX users, who have not been able to withdraw their funds
31 October 2018   331

Binance froze the accounts, which received 93k ETH from the wallets associated with the well-known WEX trading platform. It is reported by CoinDesk.

The accounts were frozen on October 25, but this became known only a few days later from a tweet from the head of Binance Changpen Zhao.

the identified accounts are frozen, please report to law enforcement and have a case number. We will work with LE. This is part of centralization we hate too, dealing with other exchange's mess (we don't even know the details). But we will do what we can.
 

Changpen Zhao at Twitter

Head, Binance

Shortly before this, Twitter-user John James wrote that funds from WEX cold wallets come to Binance, which means that the latter contributes to the laundering of money stolen from users.

Measures were taken in response to requests from WEX users, who have not been able to withdraw their funds for a long time. They managed to track the movement of funds in the Ethereum blockchain and came to the conclusion that the 25 transactions that arrived at Binance from August to October were sent from WEX-related wallets.

Users were concerned that WEX (the successor of the infamous BTC-e)does not offer the possibility of withdrawing funds since July 2018. In October, Russian users turned to law enforcement for help.

According to CoinDesk, “hundreds of WEX users” cannot get their money back, judging by the number of participants in the corresponding Telegram-chats. At the same time, funds at risk are estimated at least $ 18 million.

According to WEX users who applied to Binance, the first transaction at 485 705 ETH was performed on July 29 last year. According to Etherscan, it was produced from a previously owned BTC-e address. From September 2017 through January 2018, another 480,000 ETH were sent via 32 transactions to another WEX wallet, as well as other addresses. After that, funds from one of these addresses gradually entered the wallet of the Binance exchange.

WEX Funds
WEX Funds

Binance spokesperson said that her company always investigates user complaints and suspends access to accounts seen in suspicious activity.

In September last year, the infamous BTC-e exchange restarted on the domain WEX.nz. In April, it became known that WEX paid off 20% of the total amount of debt obligations of the BTC-e platform.

After some time, cryptocurrencies on WEX began to trade at a price much higher than average. However, anxiety among users has increased even more when it became known that the ex-militant of "DPR" Dmitry Khavchenko was going to buy the exchange.