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Topic: Binance hacked AND proven to be wash trading - page 2. (Read 399 times)

sr. member
Activity: 1008
Merit: 355
Binance is still one of the greatest crypto exchange ever

I have never understood the reverence Binance attracted and still don't. And the guy in charge tweeting about researching doing a reorg of the bitcoin Blockchain to claw back his poxy money is a glaring demonstration of his lack of understanding and egomania. It astounds me that anyone who's spent more than five minutes reading about BTC believes it's a viable idea. If you weren't sceptical about them before you should be now.

https://www.coindesk.com/binance-may-consider-bitcoin-rollback-following-40-million-hack

I am sure that the security breach and eventual loss of Binance is a great reminder to people behind Binance to avoid feeding their ego too much. This is a very big lesson for them and should be serving a big notice to all players in the cryptocurrency exchange industry that it is time to inspect all aspects of their platform so no hole can be found gaping and just waiting for a disaster. This recent breach has been sending shock waves to the whole industry and rightly so...let this be like a vaccine the industry needs from time to time.
legendary
Activity: 1647
Merit: 1012
Practising Hebrew before visiting Israel

I have never understood the reverence binance attracted and still don't.

Oh, there will always be fanboys. There was with Mintpal vs Cryptsy. There used to be a rivalry between Bittrex and Poloniex users. Nowadays since the market is much larger, tribes interact with each other less.
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
Binance is still one of the greatest crypto exchange ever

I have never understood the reverence binance attracted and still don't. And the guy in charge tweeting about researching doing a reorg of the bitcoin Blockchain to claw back his poxy money is a glaring demonstration of his lack of understanding and egomania.

It astounds me that anyone who's spent more than five minutes reading about BTC believes it's a viable idea. If you weren't sceptical about them before you should be now.

https://www.coindesk.com/binance-may-consider-bitcoin-rollback-following-40-million-hack
full member
Activity: 154
Merit: 128
First, Binance was accused of ~13% wash trading. Pretty huge in the grand scheme of things. With their huge volume it's a pretty hefty amount of washtrading. https://cryptobriefing.com/binance-wash-trading-icebergs-tips/

Now they got hacked and lost BTC7000. https://decryptmedia.com/6930/binance-hack-security-breach

It's gone from bad to worse. The next hack could very easily be even worse.  Let this be a chilling reminder to hold your own private keys. Not your keys, not your coins.

Yep its a good example of the common trade-off between ease-of-use and security, it's annoying that both can't hold true most of the time.
legendary
Activity: 1382
Merit: 1122
First, Binance was accused of ~13% wash trading. Pretty huge in the grand scheme of things. With their huge volume it's a pretty hefty amount of washtrading. https://cryptobriefing.com/binance-wash-trading-icebergs-tips/

Now they got hacked and lost BTC7000. https://decryptmedia.com/6930/binance-hack-security-breach

It's gone from bad to worse. The next hack could very easily be even worse.  Let this be a chilling reminder to hold your own private keys. Not your keys, not your coins.
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