96 BTC per syscoin - what the hell is up on binance?

[BitcoinHodler]

It's difficult to trust exchanges.  They do so many shady things now like pump and dumps.  For example: they will block all incoming deposits for a certain coin so their own bags can be dumped on the market.  It's very difficult to trust these low cap coins with all the pump and dump action, thats why I prefer to stay in btc.

uh, 1 syscoin was 96 BTC at one point a short while back.

that's a little more warped than the usual exchange crap. someone somewhere has been screwing with things somehow.

Imagine if you are buying 0.000000000000000001 syscoin at 96 btc for each syscoin price and what's the different?

I have seen this so many times on DEX just like forkdelta and etherdelta.
Someone just creating another joke order at the same time.

i don't know exactly how these decentralized exchanges you named work but in centralized ones like Binance the orderbook is a queue not a "choose whatever you want" line. which means if there are 3 sell orders like this (prices):
00.00004400
00.00040000
96.00000000

you first have to fill the first two orders on top before reaching the third one. and filling those two requires spending money. even if you execute an order on 96BTC price the system will automatically fill the first order and if there was anything left it will fill the next and next,.... it doesn't let you fill the last one.
now in reality there aren't just 2 orders there are A LOT and it will take A LOT of money to get there.

[Red_Evil]

It's difficult to trust exchanges.  They do so many shady things now like pump and dumps.  For example: they will block all incoming deposits for a certain coin so their own bags can be dumped on the market.  It's very difficult to trust these low cap coins with all the pump and dump action, thats why I prefer to stay in btc.

uh, 1 syscoin was 96 BTC at one point a short while back.

that's a little more warped than the usual exchange crap. someone somewhere has been screwing with things somehow.

Imagine if you are buying 0.000000000000000001 syscoin at 96 btc for each syscoin price and what's the different?

I have seen this so many times on DEX just like forkdelta and etherdelta.
Someone just creating another joke order at the same time.

i don't know exactly how these decentralized exchanges you named work but in centralized ones like Binance the orderbook is a queue not a "choose whatever you want" line. which means if there are 3 sell orders like this (prices):
00.00004400
00.00040000
96.00000000

you first have to fill the first two orders on top before reaching the third one. and filling those two requires spending money. even if you execute an order on 96BTC price the system will automatically fill the first order and if there was anything left it will fill the next and next,.... it doesn't let you fill the last one.
now in reality there aren't just 2 orders there are A LOT and it will take A LOT of money to get there.

i think decentralized exchange and centralized exchange like binance have a same work like you said. in DEX there are also queue in orderbook, so idk what's going on in binance but today i read the news in here https://thenextweb.com/hardfork/2018/07/03/syscoin-cryptocurrency-blockchain-hacked/

[ethereumhunter]

I heard that binance is getting hack in yesterday and today, the site cannot access. I don't know is happen with that site but I hope that our fund will safety in that site. and if the price is really getting a pump and reach 1 syscoin = 96 btc, then I should be a very rich person because I have more than 200 syscoin in that site but I do not remember if I place the sell order or not. I will check the site later if the site is back online and I hope that I already place the order sell

[plzdance]

I after all the next such hacking do not want to use API keys. I now have this phobia I think after such moments there is no doubt that the chance that this can happen again is very large...

[Red-Apple]

I heard that binance is getting hack in yesterday and today, the site cannot access. I don't know is happen with that site but I hope that our fund will safety in that site. and if the price is really getting a pump and reach 1 syscoin = 96 btc, then I should be a very rich person because I have more than 200 syscoin in that site but I do not remember if I place the sell order or not. I will check the site later if the site is back online and I hope that I already place the order sell

things like that are obviously bugs. so sorry to disappoint you but you will never be able to sell at such a high price. even if you by a tiny chance sold at some a ridiculously high price then the platform will surely reverse your order since it was a bug!
the price of such coins with huge supplies will never go that high. you are lucky it is worth 40k-50k satoshi.

[Circles]

I saw a twitter post from their CEO that it was down for a bit, and him saying something about let the naysayers talk. So maybe something was up.

[indodaks]

a cascade of mega pump and dumps wherever you look.

syscoin going far through the roof? other coins going crazy. is something there seriously broken? an API hack?

Damn it is something crazy dude! And I suspect if this is caused by API Hack because megapump and megadump have happened abnormally,

[bitbouillion]

This was repeated a second time. Bot and API use should be more careful. Such situations are damaging to the entire market.

[raven7886]

I heard that binance is getting hack in yesterday and today, the site cannot access. I don't know is happen with that site but I hope that our fund will safety in that site. and if the price is really getting a pump and reach 1 syscoin = 96 btc, then I should be a very rich person because I have more than 200 syscoin in that site but I do not remember if I place the sell order or not. I will check the site later if the site is back online and I hope that I already place the order sell

I really hope so as well and it seems if binance does not take this whole matter of security seriously, they may just end up losing the trust of traders completely. If this is the first one, we would have said it was a mistake but the first one happened with Viacoin and then we are having about the same scenario with Syscoin ?

I know exchanges cannot be trusted when it comes to the security of one's fund but at the same time, frequent occurrences like this in an exchange can bring about a lot of worries for the users.

[lakimens]

Someone emptied 17,000 BTC on Syscoin as I know, and someone sold 1 SYS for 96 BTC. Dude must be celebrating his ass out now.

[starblocks]

It appears to have been an API error of some kind

To protect customers against this they're setting up a secure asset fund in case any future incidents like this occur

[xenomorphe1]

The hackers succeed to get 1000 BTC? Apparently a 51% attack on the blockchain. Half of the top coins are vulnerable...
https://news.bitcoin.com/syscoin-hack-disrupts-binance-prompting-temporary-shutdown/

[Fulmand]

 I think Binance is the one detecting the irregularity of the trading activity that detected by the number of API users, and SYScoin team itself requesting to halt all trading transaction in all exchanges to avoid more inconvenience in all users until the problem will be resolved.

[naidray]

a cascade of mega pump and dumps wherever you look.

syscoin going far through the roof? other coins going crazy. is something there seriously broken? an API hack?

t has been confirmed to be an API hack and nothing is certain yet with the possibilities of the hackers carting away with anything. It was even SYS developers that quickly brought that into the notice of binance. However, this whole thing with binance API hack is becoming worrisome as this is not the first time we are getting to see this happen and the last time it was about the same thing. Hopefully, they will find a way to beef up their API security in a way.

[Klovezio]

a cascade of mega pump and dumps wherever you look.

syscoin going far through the roof? other coins going crazy. is something there seriously broken? an API hack?

Sold at 0.61. I m desperate for it to drop now rather than reach even sillier numbers!

[Klovezio]

I heard that binance is getting hack in yesterday and today, the site cannot access. I don't know is happen with that site but I hope that our fund will safety in that site. and if the price is really getting a pump and reach 1 syscoin = 96 btc, then I should be a very rich person because I have more than 200 syscoin in that site but I do not remember if I place the sell order or not. I will check the site later if the site is back online and I hope that I already place the order sell

Hacking? Is that true? Or rumor? So now many people don’t trust in Binance? All I know is Binance is updating their system. Two times.

[Klovezio]

I heard that binance is getting hack in yesterday and today, the site cannot access. I don't know is happen with that site but I hope that our fund will safety in that site. and if the price is really getting a pump and reach 1 syscoin = 96 btc, then I should be a very rich person because I have more than 200 syscoin in that site but I do not remember if I place the sell order or not. I will check the site later if the site is back online and I hope that I already place the order sell

ETH maintains its price quite well recently, at least it didn’t reach 350 yet recently. And now is slightly moving up. I bet will pump soon. Don’t spread this rumor and anxiety.

[RockBar0]

I heard that binance is getting hack in yesterday and today, the site cannot access. I don't know is happen with that site but I hope that our fund will safety in that site. and if the price is really getting a pump and reach 1 syscoin = 96 btc, then I should be a very rich person because I have more than 200 syscoin in that site but I do not remember if I place the sell order or not. I will check the site later if the site is back online and I hope that I already place the order sell

Hacking? Is that true? Or rumor? So now many people don’t trust in Binance? All I know is Binance is updating their system. Two times.

I still have confidence in Binance because it is a very good Exchange right now, it has updates to correct the bad news recently and I hope it will come back very soon.

[rajurathod18]

Binance looks very over confident from their progress. This recent API hack shows the loopholes in binance security system. Where as KuCoin looks promising which increasing day by day with new community members and improving their security, APIs etc. 1 SYS per 96 BTC looks very fishy.

[swissgang]

Binance creates SAFU but that does not change the fact that centralized exchanges are unsafe. Once you deposited the coin you don't own them anymore