$6.2 billion worth of Binance’s BNB token “Magically” Appeared Onchain

If a blockchain is meant to keep a permanent, immutable record of transactions, shouldn’t it do so? Except that some transactions are more traceble than others, especially on BNB Chain.

Patrick Tan
9 min readJan 12, 2023

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Let’s cook up some BNB. (Photo by Artem Maltsev on Unsplash)

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Patrick Tan

General Counsel for ChainArgos, the blockchain intelligence firm made famous for breaking the story that BUSD was unbacked by US$1.4bn