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I believe the address 1NDyJtNTjmwk5xPNhjgAMu4HDHigtobu1s belongs to Binance.

If you look at this transaction for example https://blockchair.com/bitcoin/transaction/aa107ebc0a7f00e558048a01e327ff20e21c65356bc64a0b92eb975f067eb7aa They seem to send client's funds into this address, but every time they do that they also send a small amount into a fresh address. Here it is: 3QZQ7S8v9mWWAUaSf8R4D4nzsGEMXnMjvw. And after they send those utxo into their main cold wallet (like this tx https://blockchair.com/bitcoin/transaction/380acebfd4c1c84086b3c872cf916ef1219787b28720563b92c61a12df4ad7e3) and again with a little to another address etc.

Whats the point of doing that? Why don't they just send into one single utxo belonging to their main address?

  • Unless a Binance engineer stops by here, any answer will be speculation at best. Taking a quick look at the transactions you linked, it appears all newly created outputs for the 1NDy... address are whole numbers (20 BTC), with the remainder going to a new address. Whatever the reasoning, this may be a clue as to how they deal with accounting / UTXO management, at least for these transactions. – chytrik May 19 at 22:17

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