Why is Bitcoin falling, what's going on at Binance?

Many users of Binance, one of the world's largest crypto money exchanges, have stated that altcoins are sold without their knowledge.

A large number of Binance users wrote that social media channels, especially Reddit, were suddenly sold at market prices without the knowledge and consent of the subcodes on Binance. Some users state that the subcoins are sold to Bitcoin and some to Viocoin. There are many Turkish users among these users. Viacon, meanwhile, saw an increase of over 45 percent.

An official from Binance told Reddit about the issue: "We are investigating reports that some users are having trouble with Binance funds. Our team is aware of what is happening and continues to investigate. Please be patient, we will provide an update as soon as possible. "

Several hours before the Altcoins were sold out, it turned out that Binance had struggled with server failures in the UK and several other regions.

After many users reported that the subcoins in their accounts were sold, Binance's hacking rumor spread and the crypto money market fell sharply. Binance reported that the bourse was not hacked, and that the problem originated from third-party applications (buy-sell boots, etc.).

Bitcoin lost more than 10 percent to $ 9,600 while Cardano suffered the most depreciation of 15 percent among the top 10 crypto coins.

Binance's CEO Changpeng Zhao made a statement via his personal Twitter account. Zhao said in his statement that some of the accounts may have been taken by phishing beforehand, exploring the subject, and that all funds are safe.

We recommend that third-party applications intercept access and reset API keys for their own security, and activate 2FA security measures if they are not active.