Exchanges use hot and cold wallets for different service functions.
Hot wallets are used for deposits of customers and withdrawals of customers.
Cold wallets are used for storing the exchange treasury and customer capital.
You see many Bitcoin wallets for Top richest wallets on Bitinfocharts.com. There are many exchange cold wallets in their tables.
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.htmlIf you click on Binance cold wallet:
https://bitinfocharts.com/bitcoin/wallet/Binance-coldwalletyou see their in and out transactions.
The blockchain.info explorer shows 3 ins, 3 outs transactions with your address.
- In is your deposits
- Out can be your withdrawals or exchange transaction from their hot wallet to cold wallet.
If the out transaction was made immediately (within 1 or 2 blocks) after your deposit, it looks more like a transaction from a hot to a cold wallet of that exchange.
Why? Because that procedure is automated, not manual.