Cryptocurrency exchange Binance announced changes to trading and monitoring policies following last week’s $3.9 million exploit of the Flow blockchain.
In a Friday statement, Binance said it would remove nine spot trading pairs from the exchange starting Saturday, including one for Flow (FLOW/BTC).
Additionally, the company added Flow and three other tokens to its monitoring tag list.
Tokens with the monitoring tag show “notably higher volatility and risks compared to other listed tokens,” the exchange said.
The tag also signals a higher risk of tokens no longer meeting listing standards.
Binance said the updates came after “recent reviews” of the tokens but did not directly reference the Flow exploit, which resulted in $3.9 million being stolen.
Flow released a preliminary report expressing concern over one exchange’s handling of the hack, highlighting an “AML/KYC failure” that enabled the stolen tokens to be deposited, partially converted to Bitcoin, and withdrawn.
Speculation arose that the unnamed exchange mentioned in Flow’s statement could be Binance.
Flow is continuing a recovery plan after halting an earlier proposal to roll back the blockchain.
As of Friday, the Flow Foundation said it was focused on restoring user accounts and addressing fraudulent tokens.
“What was initially projected as a sequential, multi-day process has been executed in parallel, restoring both Cadence and EVM [Ethereum Virtual Machine] functionality while maintaining surgical precision in removing fraudulent assets and preserving legitimate transaction history,” Flow said.
The foundation expects to release a detailed post-mortem report within 48 hours, with full ecosystem restoration expected later this week.
