FalconX, a cryptocurrency prime brokerage, apparently failed to do that for years with a pile of 1.35 million solana (SOL) tokens, now worth about $190 million, that it’d had in its possession since 2021.
Binance, when contacted by CoinDesk, said its customers were never at risk of losing money as a result of the situation. Binance would've simply absorbed the loss itself if the 1.35 million tokens had never been found.
It's unclear exactly how FalconX was unable to keep track of the crypto and how Binance itself seems to have lost track of the money for years. But the situation raises questions about accounting systems and controls.
FalconX confirmed that there had been "a reconciliation anomaly" involving Solana tokens. The company reconciled its books against all exchanges, clients, and partners, and no one showed records of a transaction.
Collection
[
|
...
]