Binance Wasn't Hacked, It Was a Hacked Trading Bot

in #crypto8 years ago (edited)

"According to several posts on Reddit, Twitter and other social channels, ‎someone hacked the trading bot used by majority of people on Binance. The ‎hackers sold the altcoins in comprised accounts and bought another virtual ‎coin, Viacoin (VIA)‎.

Some crypto traders have floated a bit different theory that all Binance altcoins dumped at the same time as a result of a widespread API-related attack. The users who used API keys to trade with bots have found their accounts automatically bought the VIA coin.

The basic facts for now were that many accounts got hacked, then they pumped VIA price, which rose ‎10,000% ‎in a few minutes then came back down again, using the comprised accounts’ altcoins." [MORE @ https://www.financemagnates.com/cryptocurrency/news/binance-suspends-withdrawals-trading-bot-hacked-users-accounts/]