Binance lost users Bitcoin because they converted the address provided by the user to a different address (which they thought was supportive of the Taproot fork of Bitcoin) and ended up burning all the funds by sending it to a wrong address. Now saying that it was users fault.
Taproot is a soft-fork which was introduced to the Bitcoin network on 14th Nov (last month). Binance made an announcement saying that they would support the Bitcoin Taproot upgrade for all withdrawals and deposits. "Binance will handle all technical requirements involved for all users holding BTC in their Binance accounts." (Source: https://www.binance.com/en/support/announcement/8578eea0104f439c85f50fbdc99bf7c2) Users tried to…
Read more