CZ Confirms That Abnormal Price Movements Are “Just Market Behavior”
Binance’s current issue of unusual price movements prompted an internal investigation. CEO Changpeng Zhao (CZ), concluded that the movements were “just market behaviour”. Binance had previously announced an internal investigation into the possibility of API leaks. It was eventually able to determine that the price shifts and unusual behavior were not caused either by stolen API keys or compromised accounts. After conducting an investigation, Sun Token and Osmosis trading pairs were involved. CEO Changpeng Zhao then gave an explanation. This appears to be market behavior, he concluded.
One man deposited funds and began buying. (Hackers don’t deposit). Others followed. It’s not possible to see any linkage between the accounts.
He said, “As for the act to lock withdrawals on certain accounts, the main reason is that those accounts caused many complaints on social media but they are all from different countries.”
We are aware that there is a danger of too much intervention on the platform, too many centralized attacks, etc. There is a limit to how much intervention we should make. These can sometimes happen in free markets, and we must let it play out.
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