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In the afternoon of July 3, the Binance Stock Exchange announced a temporary cessation of its operations, due to the fact that one of the cryptocurrencies on its platform, Syscoin, reported an irregularity that triggered its value of 245%, after which it asked the various exchanges to suspend their services while the problem was solved.
Although there is still no specific details about Syscoin's research, apparently discovered atypical behavior in the trade. led by unusual activities in Blockchain "in addition to irregular transactions in SYS's cryptocurrency backlog on the Binance platform, which resulted in more than 87% of total digital currency trading
In fact, the data reflected by the Binance indicators that 1 SYS equaled the value of 96 bitcoins (BTC) during day trading, compared to its previous value of 0.00004 BTC.
According to the co-founder of ] Syscoin Sebastien DiMichele: [19659005] According to what I know, a Syscoin was sold for the equivalent of 96 BTC per unit.In addition, we saw a massive activity of the bot, which was communicated by our community and we had problems with deposits at Binance.
Three hours later, Binance announced the suspension of his services temporarily, although the wording is already operational again.
For his art, Syscoin has not yet confirmed information about the failure, whether it 's about an error or if it was, in fact, a hack. Regardless, for the security measures, they announced that they would delete API keys and that users should create others, once the platform operational
It should be noted that thanks to the event the price of Syscoin was increased by 100%, reaching almost 0.50 $ per unit; however, after maintenance, its price quickly dropped to about 0.28 cents, according to Coinmarketcap estimates.
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