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Hey, guys! I have question, how are addresses for users created

on the exchange? As a subaddress or as a new wallet?

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I really don’t know, but maybe they just have cold wallets and they sign transactions on it according to user funds on the database…. Or maybe they really create real deposits to each user witch i really think it’s not the case of Binance

AL-juarisɱi Vila
I really don’t know, but maybe they just have cold...

Most likely they are just using a private key generator.

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