Binancemade a statement about the ‘abnormal’ price movements detected in the five tokens on their platform. According to the statement, the abnormal movements of these five tokens in certain trading pairs were investigated. Here are the details.
Binance; Sun Token (SUN), Ardor (ARDR), Osmosis (OSMO), FUNToken (FUN) and Golem (GLM) announced that five different tokens exhibited abnormal movements in some trading pairs. Binance CEO Changpeng ‘CZ’ Zhao stated that price movements “just look like market behavior.”
Binance has cleared customers’ doubts by issuing notifications about abnormal price movements in some trading pairs. The exchange continues to investigate the wallets responsible for the price movements. As a matter of fact, it has been confirmed that there is no API attack or hacking event in the statement made by the stock market.
“It turns out that all transactions were made by depositing money. Hackers don’t do this sort of thing by depositing money. Other wallets followed this move. According to our investigation, there is no link between the accounts.” – Changpeng Zhao.
However, the stock market took a precaution against possible manipulations. Changpeng ZhaoAccording to , some accounts that made a profit during the volatility were temporarily blocked from withdrawals. The cryptocurrency community, on the other hand, reacted sharply to this move.
Koinfinans.com As we reported, CZ commented, “There is a balance in how much we need to intervene”, also addressing concerns about centralization and corporate intervention in similar situations.
Commenting on whether the accounts in question could be stolen and used to manipulate by hackers, CZ confirmed that they follow such accounts closely.
Binance stated that it will share new information on ongoing investigations and price movements as soon as possible.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.