Bitcoin Forum

Cryptocurrency news website The Block recently published a story that claimed that there was a police raid on Binance’s offices in Shanghai, China. The exchange vehemently denies this ‘fake news’ story and, now, plans to sue.

The media outlet claimed that Binance’s Shanghai office had been shut down following a police raid. Supposedly, dozens of individuals worked at this office — which was abruptly shut down by authorities.

Read the full news here (https://beincrypto.com/binance-plans-to-sue-crypto-media-website-over-police-raid-report/?utm_campaign=amba&utm_medium=social&utm_source=bitcointalk&utm_content=jc)

It looks like somebody has to pay the price for a misleading report. At first, I truly believed that Binance was one of the 39 crypto exchanges operating in China that were being “raided” by the authorities.

But in the end, it was all fake, because that news site is only trying to get most attention from the crypto community, but in a bad way. Because of what they have done, CZ has no choice but to sue them for selling the “fake news” to the crypto enthusiasts like me.

I was pissed off the way they’re making me and the others believe of that “fake news”. These fake news (especially other fake stuff that I have seen on Facebook, Twitter and other social media sites) has to stop. However, even if we are trying to make them stop, they won’t stop.

There are many news websites publishing fake crypto news. I see such news every day. When will someone start fighting this shit? I hope such news will be at least a little less.

This is lovely because the fake news issue in the crypto sphere is getting out of hand and I'm happy that the binance boss is taking a step to sue the website owner but if we look at it every the website owner are not to be blame but the article writers which purpose was to get quick paycheck.

It's not 100% fake but it's not clear whether if that was real news or fake news. What we can to do speculate that news but this can be another proof to attack the binance
https://twitter.com/JayHao8/status/1198959664374808576

But it's very sad to see how OKEx was also attacking binance at the same time.

Serves them right. Fake news have been rampant these days all throughout the online world, not just on online news websites but also on social media. This crypto media site for sure has utilized such fake news for them to generate more traffic and also stir up the crypto world. In order for these types of manners to stop, someone has to be made accountable for their actions. I'm pretty sure CZ is very much pissed about this for him to even consider going after them.

I heard it was just fake news which was spread by several articles of the yesterday there had been broadcasts on Shanghai TV about the fake news issue so it was clear that this was only FUD spread by irresponsible, Binance could not lie to all of this because it had a good reputation.

They have the means and the right to do that if the reputation of the company is at stake, we can consider this  libel if there are damage done in the part of the company, which I think there is, there are so many fake news and FUDS but there are some news that should be spare and Binance should not take this sitting down, if they let it, expect more to come, they can impose things being the number one exchange in the market, they should protect their interest.

   Binance is top crypto-exchange, they have a team of lawyers for that stuff. And they
should sue them for blathering their mame, spreading FUD about them. And Binance 
will probably win.
   Maybe after this crypto-news websites will rethink what they publish, many
nonsenses can be seen in crypto-currency related articles.

They should pay the consequences and I think they are aware before doing that very misleading news. Now, they have to face it and there's enough evidence on them for spreading false news.

That news put stain on the reputation of Binance for that very moment. Is there a way to track the progress of CZ's sue to them?

For real? Yet, not so surprising, after all they're competitors and one's fail means more business to others.

Sure, binance could sue those who spread fuds but the damage has been done and there is no way to control the damage. While those who spread fuds are now sitting with their profit for the traffic and clicks they got. Really, social media can make you famous instantly and awful as well.

They should really start doing this already. They need to show to the FUD news publishers that what they are doing is not tolerable at all. They need to be penalized for spreading fake news that affect not just the business operation and image itself of the particular company but also the entire reputation of the cryptocurrency world, and even the prices of the coins and the whole market value.

That's the best thing to do to sue those organization who spread fuds among them since it can create panic to the people who supporting there site and for sure if the case will filled it will serve a lesson to the fudster to not use those bad news for there own benefits, And this is a reminder for people not to listed if the official statement didn't came from the official management.

It's the usual clickbait articles created for the sole purpose of gaining the attention and get the dam money. So many media are now using this method without seeing the side effect that the articles they provide could misled people into thinking something unreal or in fact wrong. They just really need a big slap to their face so that they don't take advantage every little piece of bullshit information with the stupid clickbait title ever again.

Whatever it is, clickbait or not, they should be penalized for doing what is not right. This has become rampant nowadays. So many articles are written by people without deep knowledge on the topic he is writing. So many articles are even seemingly written without a single research done. Common among these articles are those that are too short that they do not really properly educate or inform the reader. They write about so many developments from countries all over the world but they do not care to really know the situation on the ground.

Well, giving negative or fake news can affect the market price so people making it  should be face thier responsibility . If the market affected too much the publisher who make the fake news should be jailed or pay the damages.

That serves them right for misleading a news report to the community. I hope CZ continue to sue them because lately there are fake news spreading everywhere through the social media and the internet. Thankfully CZ confirm that this was totally a fake news and denied the misleading report.
It looks like someone has a problem with the binance exchange for spreading a rumor.

There would be a specific consequence if someone do spread out some fake news.Suing would be the right thing to be done yet we know on how this would greatly affect Binance business.

Nothing surprises me if these are kind of moves by those competitors or just simply a manipulative kind of news just to drive the market down because we know that community or the entire market
do easily be shook off once a big news do pops out.

It's nothing new today since this was being used already before without the presence of social media before. This kind of rumors are being created somehow by some competitors or the media outlets just to create a panic situation. Luckily there's a law today that can sue someone if they try to misinformed the public with a rumors without a fact.

This type of fake news has brought a huge impact on the said exchange. I guess it's just appropriate that they will sue the people behind this news because it has been affecting the market as well as the trust rate of Binance. We all know that Binance is one of the top exchange so they are really protecting their reputation well. I guess this is one of the competitor's move and they have to pay for it.

It's not just for Binance but for the market as well. We've seen on how huge the impact they've made after publishing the news, everyone panicked gladly didn't I. However, until now there's no update about the suing of CZ.

Maybe they've settled it privately, anyone who knows where to get some additional info?

That's the right thing to do as it is destroying the reputation of Binance, this media who release fake news should be punished so they will not play their dirty tactics, maybe they are paid by competitors but they can't destroy Binance because until now its still number 1 in trading volume.

That was the time where BTC dump and it has a hard time to recover now, Binance made a great move of not keeping silent, their investors money is always at stake here so they need to act and what they did is commendable.

fake news already exist before ever since binance was still new on the crypto industry and mostly fake news spread on social media sites like facebook but i dont think that they can be shut down so easily because if they did then why do you think there are still fake news circulating on the web  ? they can just create a new a site and start all over again  . best way to do is just ignore those news and continue doing our business like a pro  . sooner or later they will just stop if they will get tired of posting fake news .