DRAKE URGED BINANCE, ROBINHOOD, BITFINEX & TETHER TO MOVE EXPOSED BITCOIN — 616,390 BTC IN THEIR TOP COLD WALLETS HAS NOT MOVED

On October 7, 2026, Ethereum researcher Justin Drake told large holders to move coins to "addresses that have never signed a transaction." He pointed to Project Eleven's list of bitcoin addresses whose public keys are already on chain, and said Binance, Bitbank, Robinhood, Bitfinex and Tether "have an opportunity to harden their cold storage."

That part you can check. Project Eleven labels the largest cold wallets of Binance, Robinhood, Bitfinex and Tether. At block 970,503, mined October 8, 2026, mempool.space shows them holding 248,597.59, 140,849.99, 130,010.08 and 96,932.41 BTC. That is 616,390.07 BTC. Each address has spent before, so its key is public. None of the four has moved a coin since Drake posted. Tether's last move was October 6, Binance's September 19, Robinhood's September 18 and Bitfinex's August 28.

Drake's warning that new math could break bitcoin's signatures "in the worst case in months not years" is not something anyone can check. Yehuda Lindell, who Bitcoin.com identifies as Coinbase's head of cryptography, replied: "there is no evidence whatsoever pointing to a break of decades old hardness assumptions like elliptic curve cryptography." Even the size of the exposed pile is unsettled: over 6 million BTC in Glassnode figures cited by CoinDesk, 8,177,337 BTC on Project Eleven's list as of September 14, 2026.

Here is what is checkable for anyone. If your address has never signed, its key is still hidden behind a hash. If you keep coins with a custodian, you are trusting its cold wallet, and the chain shows those wallets have not moved. At the time of this writing, bitcoin was $82,492.