Thread by @cryptohippo65

Part 1: "Something very suspicous is going on with the #Binance Beacon Chain."

TD:LR - The #4 largest wallet holds 22M #BNB , but has no transaction history of these funds being deposited.

9 transactions, only 2 deposits for less than 0.0001 BNB

🧵👇

At first I thought this was a bug with the BNB explorer, so I checked another. I haven't found another dedicated BNB Beacon chain explorer, but Bitquery has access to this chain.

It also shows no 22M BNB transaction.

@imugolfen read my first post, and spotted in the balance of this 22M BNB wallet change in real time & took screenshots

Why is this relevant? No new transactions we logged in this wallet! Is the Beacon chain hiding certain transactions?

https://twitter.com/imugolfen/status/1603185615108915203?s=20&t=aAgK70o3MBtu9jT2DaIlAw

Also, the top 10 wallets hold 152M BNB, all of which are connected to Binance's declared wallets by large deposit & withdrawals (excluding the glitch wallet above).

Binance has only declared 38M BNB as their hot & cold wallets on their reserve page.
binance.com/en/blog/commun…

I estimate Binance actually owns closer to 93M BNB, but as high as 109M BNB.

The reason for the range is that wallet 3 is a burn wallet (excluded) from circ supply, but wallet 5 is the BNB contract owner wallet, with a manual burn that is included in the circ supply (16.4M BNB)

Overall, more eyes need to be on the Beacon chain to find out what's going on here.

Thank you to @imugolfen for double checking the numbers and helping review the wallets. @Cryptadamist has also been providing ongoing support via DMs. I appreciate both of you for the help!

I'm calling on onchain analysis twitter sleuths to look at this, to see if they can shed light on how a wallet can contain 22M BNB without a record of a deposit.
@zachxbt @otteroooo @DesoGames @DylanLeClair_ @MikeBurgersburg @CasPiancey @Bitfinexed @stackhodler @AdamSinger

I'm calling on onchain analysis twitter sleuths to look at this, to see if they can shed light on how a wallet can contain 22M BNB without a record of a deposit. @zeroshorts @danny_mx @DataFinnovation

Please tag any additional accounts that would be interested in this oddity with the BNB Beacon Chain.

Part 2 has been released:

https://twitter.com/cryptohippo65/status/1603827677407871003?s=20&t=46wi49XRgFf39Yo8KfWqmQ