BINANCE ADDED 6,711 BITCOIN TO A COLD WALLET WHOSE PUBLIC KEY IS ALREADY ON CHAIN — TEN DAYS AFTER DRAKE’S WARNING, FIVE EXPOSED WALLETS HOLDING 793,731 BTC HAVEN’T MOVED A COIN

On October 15, 2026, at block 971,580, one transaction put 6,711.266 bitcoin into an address beginning 3M219K. BitInfoCharts and Project Eleven both label it a Binance cold wallet. It isn’t a fresh address. It has spent coins before, and mempool.space counts 414 of its outputs already spent, so the public key that guards it has been sitting on the chain for anyone to read. The deposit took its balance from about 170,630 to 177,341.51 bitcoin.

That came eight days after Ethereum researcher Justin Drake urged big holders to move coins to addresses that have never signed a transaction, and named Binance, Bitbank, Robinhood, Bitfinex and Tether. We checked the five reused addresses those labels tie to Binance, Robinhood, Bitfinex and Tether. Since block 970,349, mined minutes before his October 7 post, not one has sent a single coin out. At block 971,884 on October 17, 2026, they held 793,731.57 bitcoin between them. We left out Bitbank’s labeled address because it’s active and its balance doesn’t match the list.

Here’s the line between what you can check and what you can’t. That these keys are public, and that the coins haven’t moved, is checkable by anyone with a block explorer. Drake’s worry that the math behind bitcoin signatures could break soon isn’t. Yehuda Lindell, who Bitcoin.com identifies as Coinbase’s head of cryptography, replied that there’s no evidence of any such break. None of the four firms has said why it keeps using these addresses.

An address that has never spent shows only a hash of its key. Once it spends, the key is out for good. Moving to a new address is one transaction, and the chain will show who takes it. You don’t have to trust a custodian’s word on how it holds coins when you can watch the coins. At the time of this writing, bitcoin was $81,146.