CZ Confirms The Abnormal Price Movements Is “Just Market Behavior”

The current issue of abnormal price movements on Binance has led to an internal investigation, CEO Changpeng Zhao (CZ) eventually concluded the movements were “just market behavior”.

Previously, Binance announced an internal probe with suspicion of leaked users’ API. However, it eventually determined that the unusual price shifts were not caused by compromised accounts or stolen API keys. Sun Token, Ardor, Osmosis, FUNToken, and Golem were among the involved trading pairings.

CEO Changpeng Zhao subsequently gave an explanation of the concerning situation after conducting the investigation. He concluded this appears to be “just market behavior”.

One guy deposited funds and started buying. (Hackers don’t deposit). Other guys followed. Can’t see linkage between the accounts.

He added

As for the act of locking withdrawals on some accounts, the key reason is that those accounts caused a lot of complaints on social media, but they are from different countries.

We are aware of the concept of too much intervention from the platform, “too centralized” attacks, etc. There is a balance to how much we should intervene. Sometimes, these happen in free market, and we need to let it play out.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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