BNB Token Stumbles to 1-Year Low Amid Mounting Scrutiny Over Binance
BNB, formerly known as Binance Coin, dropped to as low as $204, lowest since late June 2022.
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BNB, formerly known as Binance Coin, dropped to as low as $204, lowest since late June 2022.
The price of bitcoin (BTC) and Binance’s BNB token immediately fell following the report.
Australian officials directly sought out current and former employees of Binance’s operation there this week, demanding copies of internal communications and data from their personal devices, according to a person familiar with the government’s move against the leading crypto exchange, which marked the latest in a pile-up of legal troubles facing the company.
Binance General Counsel Han Ng, Chief Strategy Officer Patrick Hillmann, and Senior Vice President for Compliance Steven Christie are among those that left the company, reportedly over its handling of DOJ investigations.
An estimated $4 billion worth of malicious token issuances on PolyNetwork will not bear much money for attackers due to low liquidity and security precautions.