Today, the biggest cryptocurrency trading system, Binance, printed out a Proof of Reserve documentation, and several clients described a shortage of both Polkadot Reserve and Bitcoin Cash (BCH). 

BCH is difficult to find on Binance

Binance’s BCH reserves are running low. The reserves held for different crypto assets are listed in a PoF that Binance published yesterday. The Bitcoin cash reserves are what drew this Redditor’s attention. A user commented on reddit that Binance produces a margin web page that lists a great debt but attaches a wallet with big reserves.

This Redditor pointed out that according to Binance, there are 450,000 BCH in cold wallets. Online data indicates that the cold wallet only contains 100,000 BCH, according to Redditor. 

The fact that Binance is low in reserves of Polkadot is also highlighted in another Reddit post. According to the Reddit post, Polkadot Binance’s wrap up holdings are smaller than what is claimed on their web page. The cryptocurrency industry as a whole has criticized Redditors for disseminating false information that could be dangerous.

The two Redditors have been charged with ignorance of how wallets operate, how money is stored, and what is stated in the POF by some of the comments left on their posts. 

Misleading info

Investors commented on a Polkadot-related post by saying that Binance ought to have a lot of wallets related to Dot. Investors can generally sow panic. Misinformation about other exchanges has been spread as a result of the FTX fraud. Due to a lack of funds to finish the service, FTX is currently in a state of chaos.

There are reports that FTX lost billions of dollars. So generally, a lot of people wish to gain popularity or profits from the chaos and crisis and wish to spread as much wrong information as possible to receive attention and extra revenues.

Now all investors should be extremely careful and trust almost nobody but the trusted info sources and never make decisions on the spot before considering all the possibilities of it being made purposefully false.