Hi everbody,
long time i have been very passive in writing content - but recent events lead my to further investigation what happend in the last 24 hours.
I read a lot of posts here and on twitter when people accused Binance and Huobi taking position for Justin Sun, getting millions of Steem in return.
Looking at the facts, I think Binance and Huobi got exploited by Justin Sun:
- Binance already recognized their mistake and removed the proxy vote. (Twitter Post)
This could very well be plausible. Large exchanges which support hundrets of crypto-currency have common practices on how to support soft- and hardforks. The mistake here was, that these common practices didn't verfify if those actions apply with each blockchain governance. I'am sure Binance learned from this PR desaster and will make sure this kind of thing won't happen again.
- Steemit Inc. aka Justin Sun send all their liquid Steem (3.8 million) into their private Binance and Huobi accounts (Proof 1, Proof 2, Proof 3, Proof 4)
If you take a closer look into these transaction you will see that all these accounts from Steemit Inc. transfered funds with the same memo adress into the exchanges which means that these funds will be credited to Justin Sun (aka Steemit Inc.) on these exchanges.
In my opinion this proofs that Binance told the truth and only Justin Sun is to blame for these actions. He transfered all liquid Steem he had in order to secure these Steem amounts from another soft-fork which freezes his assets. I guess his plan right now is, to keep control for at least a couple of days in order to apply the 3-day-power down change and secure all his Steem he "bought" from @ned with Steemit Inc.
If you think this even further Justin will sell these liquid Steem at a premium to these exchanges in case they get a liquidity problem when more and more users make use of withdraws.
My best guess is:
If at least Binance really got exploited by Jusin Sun, it could be a very likely outcome that funds on Steemit Inc. Binance account will be frozen and whatever happens then. Maybe we'll see some interesting turn on events very soon.