Binance Temporarily Disables Withdrawals, Reports of Unauthorized Selling

Binance users are reporting unauthorized selling of cryptocurrencies for bitcoin. “Binance just sold all my alts at market rate and I have got just the Bitcoin now,” says one such user.

“Coordinated dumping on Binance? Any theories as to why? Never seen anything like that before,” says another. Binance itself stated:

“We are investigating reports of some users having issues with their funds. Our team is aware and investigating the issue as we speak.

As of this moment, the only confirmed victims have registered API keys (to use with trading bots or otherwise). There is no evidence of the Binance platform being compromised.

Please remain patient and we will provide an update as quickly as possible.

Withdrawals are temporarily disabled at this time.”

Pretty much all cryptos begun significantly falling a few minutes ago. Eth down $100, bitcoin down $1,000:

Something very strange happened with an obscure Viacoin that barely has a market cap of around $100 million.

It shot up on Binance a few minutes ago by some 1,000% to then crash down again, but up still around 50%:

There are suggestions a trading bot used by many on Binance has been hacked, which may suggest this was a problem with a third party rather than Binance itself.

We are still waiting for an official update.

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