Binance responded to market concerns over on-chain data anomalies flagged by third-party trackers Coinglass and DefiLlama.
The exchange noted similar past discrepancies with DefiLlama, expecting data restoration in 24-48 hours. It encouraged users to verify holdings directly while suggesting regular withdrawal tests across platforms.
The statement followed reports of anomalous outflows. Binance directed users to its proof-of-reserves page for personal asset checks.
It also pointed to CoinMarketCap for total balances. For platform flows, it recommended OKLink.
What Happened
Coinglass highlighted discrepancies based on public data, drawing hostile reactions. The firm defended its neutral analysis.
Binance described the data as unvalidated from third parties. It echoed a 2025 incident where Coinglass showed $21.75 billion outflows, contradicted by DefiLlama's $900 million inflows.
DefiLlama data often counters such claims, showing net inflows for Binance.
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Why It Matters
These clashes reveal inconsistencies in third-party tracking. Observers note frequent FUD around Binance reserves since 2022 collapses.
Data shows exchanges face scrutiny over transparency. Binance's proposal for an annual "Withdrawal Day" aims to test asset authenticity.
Yet, skeptics question if self-reported proofs suffice. Industry trends indicate rising user withdrawals during volatility spikes.
Background
Binance, the largest exchange by volume, holds over $100 billion in assets per its reports.
Coinglass focuses on derivatives data, while DefiLlama tracks DeFi flows.
Past episodes, like October 2025 outflows claims, led to similar defenses. Regulators worldwide monitor such platforms for solvency risks.
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