Saturday, March 6, 2021

Binance bitcoin futures attacked, CEO dismisses as an accident

The Takeaway:

Binance CEO, Changpeng Zhao informed to his twitter followers that a known client tried to attack the Binance Bitcoin Futures on late of 15th September. However, Zhao later clarified that it was an accident due to the bad parameter on the client's side and was not intentional.

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Binance CEO, Changpeng Zhao in a series of tweets late on 15th September revealed that Binance Bitcoin Futures was attacked, but no one was liquidated. In the first tweet, he wrote that a market maker from a smaller futures exchange tried to attack Binance futures platform, but no harm was done. Only the attacker lost a bunch of money he added. 

CZ further informed that it was the second attempt from the same attacker to harm Binance, but he failed. Without naming the culprit, CZ claimed that this attacker is a well-known account that trades on Binance and just a few months ago started its own futures exchange. 

However, Binance CEO, after talking to client clarified that it was an accident due to a bad parameter on the client’s side and was not intentional. Crypto community on twitter criticized CZ for calling out the client publicly before confirming all the facts. Let us know in comments what do you make of Changpeng Zhao’s tweets?

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Harry Finnerty
Harry Finnerty
After completing his graduation from Strayer University, Harry started to work in the real estate industry. However, soon he realized that his real interest is in the financial industry and once he came to know about bitcoin and the technology behind it, he dedicated his life to understand and write about it.

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