Users of Reddit yesterday filled the social network with numerous complaints about the activities of the popular crypto-exchange Binance. The reason for the dissatisfaction was the fact that all their altcoins have been suddenly sold without their consent at the market rate, having not received any notification.
The trouble begun yesterday and is still far from being solved by Binance team.
“WTF is happening. Binance just sold all my [altcoins] at market rate,” – one of Binance users wrote on Reddit, adding that all his altcoin savings were now converted to Bitcoins.
“It is true. It happened to my account. All my [altcoins] were sold and all I have is Bitcoin now,” – another user confirmed.
Despite that, there were no signs of the user’s accounts corruption, as reported by the owners of the affected accounts themselves. The user specified that his two-factor authentication proved no sign of hack.
“Our team is aware and investigating the issue as we speak. Please remain patient and we will provide an update as quickly as possible,” – a member of Binance’s technical support team wrote in response.
Following these statements, a representative of the company confirmed to Reddit that the problem is taking place and that they are engaged in its investigation.
According to the information available at the moment, not long before the problem triggered, Binance suffered from server downtime in the UK and several other areas.
Binance has posted the statement below on Reddit:
“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”.
This is the second big failure for Binance for the last month. In February, the stock exchange sharply stopped all trades due to maintenance problems. The site eventually resumed work almost a day after the promised deadline.