The Crypto Exchange Binance released updates to users after several tokens on the platform that seemed to crash at $ 0 at the end of the Meltdown of the Friday market, saying that the tokens didn’t really crash, but showed a $ 0 price to users due to a “display issue.”
Many Altcoins appeared in crashing to $ 0 To Binance during the Friday market disturbance, including Iotex (‘Re), Cosmos (Atom), and the machine (Enj), despite the tokens that remain neat above $ 0 with other crypto centralized exchanges.
Tokens do not actually lose 100% of their platform value, according to AN announcement from Binance to Sunday. Binance explained:
“Some trading pairs, such as the IOTX/USDT, have recently reduced the number of decimal areas that allow for minimum price movements, causing the user interface prices to be zero, which is an issue with showing and not due to an actual $ 0 price.”
Binance Exchange became the center of ControversyFollowing Crashing on Friday’s market That lasted up to $ 20 billion in leveraged positions-the worst 24-hour crypto extermination in market history.
Related: Crash on the market ‘does not have long-term basic implications’-analyst
Entrepreneurs think Binance may be faced with a coordinated attack
Binance may be the target of a malicious exploitation, which caused Ethhena’s synthetic dollar dollar Lose its dollar peg to Binance and dropped to only $ 0.65, According to Crypto businessman Elontrades, who was thinking about the cause of the incident.
Attackers took advantage of the digital assets posted in Binance’s “Unified Account” feature using Oracle data from internal order books compared to external oracles, according to Elontrades.
Binance had previously announced that it would fix the issue by softening price feeds from external oracles on October 14, giving actors a window of a window of opportunity to take advantage of the mechanism and create major price differences, elontrades allowed.
It has been sparking a Cascade of liquidations of up to $ 1 billion for Binance, which spread to become a market contrary, he ended.
Binance has announced a total of $ 283 million in return to the victims who are lying as a result of the removal event.
Despite this, Kris Marszalek, the CEO of Crypto Exchange Crypto.com, was called Ensolves in the regulation of centralized exchanges Who has experienced heavy losses in the historical crash in the Friday market.
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