Binance CEO Changpeng Zhao, CEO of Binance cryptocurrency exchange, reported on Twitter this morning about an attempted attack against his company's new futures platform.

Binance CEO spoke about «attempted attack» to the futures exchange

Binance cryptocurrency exchange CEO Changpeng Zhao tweeted this morning about an attempted attack on his company's new futures platform.
 

According to Zhao, a market maker from a smaller futures exchange tried to attack the Binance Futures platform, causing a sharp short-term fluctuation in the price of bitcoin..

«Attack organizer – a well-known account that trades on Binance and launched its own futures exchange a few months ago. This was the second attempt at such an attack. A shame!», – he writes.

 

 

 

 

 

At the same time, Zhao claims that not a single user was liquidated., «because we use the index price (not the futures price) for liquidations (our invention)». It is worth noting that the index price for liquidations has been used for a long time, for example, by the BitMEX exchange, which previously convicted Binance of plagiarism..

«Their intentions are clear», – wrote Zhao in response to a comment that a one-time sale of a significant volume of contracts can hardly be considered an attack on the exchange.

According to the sk3w analytical platform, the turnover of the Binance futures platform over the past 24 hours has exceeded $ 210 million, which allowed it to bypass exchanges such as Deribit and CryptoFacilities.

UPD: Zhao writes: «I talked to the client. It was an accident caused by a misconfiguration on their part. Unintentionally. Now everything is all right».

Also today, Binance announced the launch of Phase 4 of the Binance Lending Program, which kicks off on September 18 and will allow users to receive interest payments from lending margin positions on BNB, BTC, ETH, ETC and USDT within 14 days..

 

 

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