Did you encounter massive price fluctuations on Binance for certain trading pairs? CZ wants you to know it's probably 'just market behavior.'
“One guy deposited funds and started buying. . Other guys followed. Can’t see linkage between the accounts.”
However, the exchange took a proactive measure against possible manipulation. It temporarily blocked withdrawals for some accounts that made profits during the volatility, which according to CZ, sprouted complaints across social media. CZ further addressed the concerns related to centralization and company intervention during similar occasions as he stated, “There is a balance to how much we should intervene.”about the possibility of using stolen or compromised accounts for carrying out manipulative trades, CZ clarified that Binance actively monitors such accounts, adding that:
“If you leave your account details with a 3rd party platform that gets hacked, and the hacker is cautious in using it, it can be hard to detect on our side. But we try.” Binance has confirmed to keep investors updated as soon as ongoing investigations reveal new information about the ongoing price movements.
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