Could this be the cause of the market madness today?
It seems that the altcoins in some peoples accounts got dumped to BTC.
Somehow Viacoin (VIA) jumped 50% at the same time with most of the volume on Binance.
Here is the Reddit post from a Binance employee
This morning a large number of users are reporting issues with their accounts on Binance.
Issues:
Many people have logged in to find that all their altcoins were sold for BTC, and that many users also placed buy-orders for a specific coin at a price multiple times above its regular value.
This is only effecting users who have issued API keys on their accounts.
Binance has confirmed the issue stems from the API via third-party tools and is not a direct compromise issue.
Security Suggestions:
If you use third-party trade bots, automation tools, portfolio trackers, or portfolio management tools that use Binance API keys you should consider:
Disabling those accounts either on Binance or the tool itself.
Disabling "trade" access to the API on Binance, or resetting the key.
Disabling your API keys on any other exchange that is hooked into the same systems.
Ensuring your 2FA is enabled, and you are using a strong and unique password.
At this time it does not seem like Binance was directly compromised in any way, but we are still awaiting official comments.
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to be careful, there are many attacks from the hackers to the platform, the bitcoin is a crypto with a very high value, maybe surreal and this will continue to happen more and more.
Man talk about the Wild Wild West! Thanks for reading. Upvoted and followed you,