One user claimed Binance stole his exotic Bitcoin Ordinal after he mistakenly sent it to his Binance deposit address in spite of notifications to send him normal BTC. The image-based Ordinal, which is essentially an NFT-type digital collectible, was classified as irrecoverable by Binance support. The user discovered it listed on sale later on Magic Eden and posted about it on X, claiming that Binance illicitly recovered and sold it. The post was shared widely, with users condemning Binance as a "criminal organization" and asking questions.
The mystery was resolved when the user discovered "sats panning," a phenomenon where collectors scour for uncommon satoshis—small fractions of bitcoin attached to Ordinals. Binance's commingled pool of customers' deposits, and withdrawals will randomly allocate satoshis, including the rare ones. A collector inadvertently withdrew the sat that held the Ordinal, selling it on Magic Eden. No theft by Binance was involved; it was just a random withdrawal. The user withdrew his post, but the occurrence still provokes debate. There has been no official word from Binance.
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