Finally CZ Binance publicly admits that Steem was 51% attacked and is centralized.

in #hive5 days ago


Today Binance announced its position regarding the theft of millions of Steem from 60+ Steem users/stakeholders. While CZ Binance clearly states they don't condone zeroing out accounts, they have no choice but to support the Steem hardfork-23 because they still have customers who use Steem.

Full Binance statement can be found here and you can also read the following Twitter feed of what CZ himself has to say here.

What caught my attention is his response to @stellabelle where he admits that Steem has been under 51% attack and is centralized. The interesting part is that he doesn't realize that he personally is responsible for these hostile attacks since the moment he authorized powering up @binance stake (customers' funds) to aid Justin Sun in #steemhostiletakeover. That was the 51% attack that let everything else happen afterward.

While currently stolen funds as a result of HF-23 at @bittrex's custody and are not lost yet, one can hope these so-called leaders in the crypto/blockchain space will do the right. It is within their powers to securely distribute stolen funds to the rightful owners, only if they had the courage to do so.

Steem is dead. Long live Hive.


This is a very big deal. His tweets today are gold (or BTC).

I think he knows his part. They won't do it again and he'd be mad to admit it from a legal point of view.

I think he could still correct his mistake by contacting Bittrex and working out a deal to securely distribute stolen funds to the original owners. Not sure if he is interested in correcting his mistakes though.

My same thought. If only bittrex can be bold enough with all the other exchangers backing

Bittrex doesn't have the balls to return the coins to rightful owners... What Bittrex basically said in their statement is that shit happens and exchanges just have to duck to survive...

CZ wants to just be one everyone's side, Mr magnanimous! All his communication is so managed there's really no point in reaching out to him

With all thats happened with steem these past few months its hard to imagine that the steemit platform will last and that people will have faith in the steem blockchain

I think that this writes a bit of dPOS history and shows the industry is hopefully coming around to understanding that what Sun did was tantamount to a 51% attack. Might as well call it a 99% attack in this case.

This is very interesting! Thanks for sharing. I don’t think they have the courage to do the right thing! But their perception of personal interests will dictate their actions!

yeah, this surprised me as well, in a good way. 😃

The things people are willing to admit on Twitter. It's like mind blowing.

Twitter is an important reputational vehicle in several scenes. In crypto it is one of the best methods to reach as many as possible "leaders".

CZ also apologized on Twitter after fully understanding what he contributed to (with 22.5). In scenes such as the (Internet) startup world and cryptotwitter, that is seen as a public apology and an absolutely necessity to save face and move forward.

Lastly, CZ is an expert tweeter and fully aware of and skilled in social "tweet protocol". He even used #onwards as a stand-alone, closing tag to his apology. That was not a request nor a desire, that was “topic closed”.

exactly, Twitter is pro Bitcoin as well, so it's like a safe haven mostly....some censorship tho is happening but it seems better than other platforms for sure, Crypto Twitter is a big community, and one place where all the crypto tribes are all located.

Life on Twitter is funny

@tipu curate

I think he is just trying to neutral at this point, we all know how they have powered up for the witness votes, and that was part of centralization.