Is Binance Proof of Reserve Cooked?

According to an analysis of a Reddit user, within 20 hours after Binance published the reserve proof, he transferred 2.7 billion USDT to another wallet. The wallet is not listed as a Binance wallet, marked as such, nor included in Binance's Proof of Reserves publication, according to Reddit's analysis.

The Evidence of Reserves article was published on November 10 at approximately 13:00 UTC, nearly 24 hours before this finding. Do you play games on Binance? Binance said all customer assets on Binance are fully protected and encouraged consumers to withdraw funds from the exchange through CZ. They claimed proof of reserves and advised not to trust other exchanges.However, yesterday Reddit users reported that 200,000,000 tokens were returned to the public Binance wallet and more than 2.5,000,000,000,000 tethers remains in a new strange hidden wallet. Additionally, analysts say other wallets will have to include additional funds in their proof of reserve snapshots. About 2.4 billion Tron wallets are missing from Binance and 500 million are missing from his third wallet. Analysis suggests that most of these assets disappeared as of November 14th. However, it is debatable whether these assets can be accounted for by users withdrawing funds in the case of the second and her third wallets. Nevertheless, in the case of the first wallet, there is no plausible explanation for the transaction, which simply moved billions of dollars into a secret new wallet. This leaves big questions. Especially given the fact that I achieved this after uploading a preliminary “proof” photo almost 20 hours ago.

Why didn’t Binance provide a publication on the new wallet? Businesses can manage and protect their funds wherever they see fit. It doesn't have to be stored in a specific wallet. The Binance ecosystem takes this issue more seriously.