CZ responds to security concerns over Binance's address holding over 200,000 BTC: Addresses starting with '3' are likely multi-sig

Odaily reported that a crypto KOL posted on X platform, stating that the top address on the Bitcoin rich list, associated with Binance, is a wallet address starting with "3" and holds over 200,000 BTC. The KOL questioned the security of Binance concentrating such a large amount of Bitcoin in a single address, expressing concerns about the risk of private key collision cracking. In response, CZ said: "An address starting with 3 should be multi-sig, right? You'd need to collide more than 3 private keys? Trust the math."

Analysts believe the address likely employs a multi-signature mechanism. Even if a private key collision is theoretically possible, the actual difficulty of cracking it is extremely high.