Crypto exchange Binance had secret access to a bank account belonging to a U.S. partner, and transferred large sums of money to and from it
The money was moved to a trading firm account managed by Binance’s CEO.
More than $400 million moved between the Binance.US account, to Merit Peak, over the first few months of 2021.
“Merit Peak is neither trading nor providing any kind of services on the Binance.US platform,” a statement from Binance US spokesperson Kimberly Soward read.
“Only Binance.US employees have access to bank accounts.”
