Binance publishes proof of reserves website list 611,919 BCH liabilities but links to cold wallet with a balance of only 112,615 BCH. They literally have posted evidence that they have only fractional reserves.

https://www.binance.com/en/assets-proof

screenshot: https://i.redd.it/i6fdch8e35z91.png

Bitcoin Cash BCH Bitcoin Cash Proof of Assets 451,920 BCH qre24q38ghy6k3p...8hqmxmqqn28z85p BCH

Wrapped Token 9,713 BCH

BEP2 150,286 BCH

Cold wallet backing: https://www.blockchain.com/bch/address/qre24q38ghy6k3pegpyvtxahu8q8hqmxmqqn28z85p

Final Balance: 112,615

they fucked up on listing it for BCH.

They listed their liabilities instead of the actual balance on their cold wallet. (they were not supposed to list their liabilities)

They claim there are over 450,000 BCH in their cold wallet but if you look on chain yourself you find it's only a 100K.

Where does the 450,000 BCH number come from? Most likely they accidently gave away their BCH liabilities.

If you still keep your BCH on Binance after knowing this ... there is no hope for you.

Their cold wallet balance does not even cover the amount of Binance Pegged BCH they have on BSC - 160k + BCH.

Credit to u/i_have_chosen_a_name

Edit: spelling