A technical error in the Binance futures platform causes an embarrassing situation for the founder of the platform (CZ)
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Answer A technical error in the Binance futures platform causes an embarrassing situation for the founder of the platform (CZ)
Binance CEO Changpeng Zhao revealed that the futures trading platform was attacked by a market maker in the early hours of yesterday, September 16.
He indicated that the platform is under attack from a competitor in the futures trading platform industry and that it is targeting the new Binance platform.
Immediately after that, it appeared that it was, in fact, a flaw at the level of the platform’s system and was not related to any third party, as stated by the CEO of the Binance platform.
After the start of futures trading operations officially on the Binance platform, which started well and without any obstacles
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But then some events happened, which we will tell in this topic.
Binance CEO Changpeng Zhao announced via Twitter that a market maker tried to attack the futures trading platform. “CZ” indicated that the accused party is the “market maker” which is a small platform for futures contracts that attacked Binance, but it did not succeed in its endeavor.
A market maker from a smaller futures exchange tried to attack binance futures platform. No one was filtered, because we use the index price (not futures prices) to filter (our innovation). The striker just lost a bunch of money, and that was the case. pic.twitter.com/ztMZEtYKc6
– CZ Binance (@cz_binance) September 16, 2019
And through what “CZ” also published on its official account, it showed that the Bitcoin futures contract fell for a short period from 10,324 dollars to 10,024 dollars.
And that this is the result of the failed attack on the platform, accusing the unknown party, adding that it was the second time that an attack on Binance had been attempted.
The attacker is a known account that is being traded binanceand started their futures exchange a few months ago. This was the second attempt they tried to make. Shame!
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– CZ Binance (@cz_binance) September 16, 2019
A short time later, it became clear that the accusation and the attack were just a mistake and that Mr. “CZ” was too quick to judge matters.
As there is a glitch at the system level of the futures trading platform only.
to face “CZ” was a barrage of harsh criticism from his followers on Twitter, asking him to wait before issuing any accusations.
Imagine you are so unprofessional that you are calling someone to manipulate without the facts
– Ben (@BenLearnsTradin) September 16, 2019
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It is known to the platform manager “CZ” that he is strongly present on the Twitter platform and that any new person who receives the platform announces it immediately on Twitter.
But the latest approach from the manager of the world’s largest cryptocurrency exchange by trading volume shows a kind of inexperience.
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