how hard will Binance coin (BNB) get dumped?

[Red-Apple]

with all the drama about Binance today after they got hacked and also the fact that BNB was already in a big bubble after its pump, how hard do you think their token is going to get dumped now that their business is facing a crisis?

[niisarearning]

I dont think it will have huge dump because binance is having enough fund to sustain this coin . But safer zone i sold some of my Binance coin which i hold it in exchange . Crypto market about to take off again one more strike happened .

[Red-Apple]

I dont think it will have huge dump because binance is having enough fund to sustain this coin . But safer zone i sold some of my Binance coin which i hold it in exchange . Crypto market about to take off again one more strike happened .

you know this wasn't a couple of thousand dollars lost?
unless this was a fake "hack" and they stole the coins themselves, i seriously doubt they have enough money to cover 1% of their users. this was $40 million theft after all! that can cripple any business let alone some thing like an altcoin exchange.

[crazylikeafox]

for as long as they can fix this mess that fall upon BNB, i am sure that it can recover from this dumped, but i know for sure that BNB will stay strong after this being fix.

[butka]

Yes they should probably fix the mess and everything will be fine again. But, this incident only shows what happens when you put your trust in a centralized entity. The next time something similar happens, things may not be fixable so easily.

The purpose of Bitcoin as a decentralized currency is to protect precisely against such things happening. Unlike bitcoin, BNB is not decentralized and all people that own BNB coins are entirely at the mercy of the entity/company that has issued them.

[Dpat]

Binance is now facing a harder situation as the hackers are stolen 7000 Bitcoin from its hot wallet. But, the CEO has already addressed the users via twitter that there will be no effect to our users as Binance will recover self all the affected users. So, during this situation it is obvious that the BNB coin will affect but it is only the short term. So, no need to be panic about the BNB coin.

[BitcoinHodler]

this is another good proof of how bad centralized coins are.
you can see that the coins that are centralized create a focused singular point of failure. an attack point which can destroy the coin in matter of minutes. not that i am saying it will happen in this case but it is a strong possibility. similar to Bitfinex coin (Tether) that is centralized and has a single point of failure.
hopefully we can see the community take lessons from this huge loss and eventually move towards REAL decentralized exchanges and increase their own security and at the same time protect their identity and privacy too.

[HatakeKakashi]

Depens to the people if they are going to sell their BNB token for sure the value of tokens decrease because of what happened to the Binance I don't think they have effect on the BNB because as investors of the BNB I will still hold that token because I believe to this token because they have potential and it will not affect my decision even I saw some news account from the Binance hack by the hacker.

[CryptoBry]

with all the drama about Binance today after they got hacked and also the fact that BNB was already in a big bubble after its pump, how hard do you think their token is going to get dumped now that their business is facing a crisis?

The recent hack which many are disappointed and even shocked to learn can have some effects on the BNB token but of course this can easily be  remedied by Binance people by being open about it and the things they are doing to prevent the same thing from happening again. Binance remains to be a very profitable operation and this may not be making a strong punch on their finances...the most important for now is to make sure that all the coins/tokens of the users were not touched so that there will be continuing fear by its customers. I am sure that Binance can easily survive this and if I have the money this can be the best time to enter into BNB.

[ChiNgadOr]

the drama is not on the HACK itself, but on the sugestion of a ROLL BACK by CZ.... =========> HUGE MANIPULATION! we are not safe, Bitcoin seems not centralized, our core principle (inmutability) is BETRAYED


https://twitter.com/CoinSpice/status/1125979761728049152

[xenomorphe1]

I am surprised that BNB is being pumped at gate.io after the hack. Is it the work of Justin Sun and CZ bots? Both surely have a lots of BNB coins to sell. If BNB coins were stolen, CZ would surely have made a rollback...

[livingfree]

I still can see that they remain strong after the hack. The lowest that it has been today was around $19.88 as per coinmarketcap and I think that's still quite good amount after experiencing that kind of attack. The price as of the moment is $21 so I don't think that people are losing trust to BNB and the exchange itself.

I dont think it will have huge dump because binance is having enough fund to sustain this coin . But safer zone i sold some of my Binance coin which i hold it in exchange . Crypto market about to take off again one more strike happened .

As per tweet of CZ they are hurt but not broke.

i seriously doubt they have enough money to cover 1% of their users.

It's an expensive lesson for them but CZ guaranteed that they will cover the losses of those affected ones.

[styca]

the drama is not on the HACK itself, but on the sugestion of a ROLL BACK by CZ.... =========> HUGE MANIPULATION! we are not safe, Bitcoin seems not centralized, our core principle (inmutability) is BETRAYED


https://twitter.com/CoinSpice/status/1125979761728049152

Yes, this is a bit of a concern. But it's not something Binance can just decide to do, they would of course need support of 51% of the power... but it's a concern that it is being raised as a potential fix, and it does highlight the fact that decentralisation never really remains perfect decentralisation.

[Hamphser]

with all the drama about Binance today after they got hacked and also the fact that BNB was already in a big bubble after its pump, how hard do you think their token is going to get dumped now that their business is facing a crisis?

All is bubble and theres no exception on that.For now BNB isn't still on a brink of hard dump.Yes, it decrease its price because of this hacking drama but not too much.
Either we would see this dumps later on or just the support to BNB is still going strong.Lets see a few more days.

[mrdeposit]

I dont think it will have huge dump because binance is having enough fund to sustain this coin . But safer zone i sold some of my Binance coin which i hold it in exchange . Crypto market about to take off again one more strike happened .

you know this wasn't a couple of thousand dollars lost?
unless this was a fake "hack" and they stole the coins themselves, i seriously doubt they have enough money to cover 1% of their users. this was $40 million theft after all! that can cripple any business let alone some thing like an altcoin exchange.

Let's think the positive side of these hack news. At least the CEO promised to cover any loss and it will not affect to the investors. 40mln$ is not a big amount compared to the hacked 100 million dollars.

[Ultimist]

No, I don't think this hack will have any significant impact on BNB. Binance has enough funds to compensate for losses, as well as to maintain the price of the token.

[albon]

with all the drama about Binance today after they got hacked and also the fact that BNB was already in a big bubble after its pump, how hard do you think their token is going to get dumped now that their business is facing a crisis?

Certainly after this bad news about the binance platform, many investors will have FUD, But the CEO of the binance platform reassured investors by a video, He explained that the priority of the team of the platform of the binance now is to rebuild the system within the platform and identify all the security vulnerabilities, The bitcoin wich stolen from the hot wallet accounted for only 2% of the total holdings of the bitcoin on the exchange, I do not think the BNB coin will be affected by the negative after these news because the binance have a lot of liquidity capable of reviving the BNB coin again, I will not sell my BNB coins and I will hold them because this time for binance is the working time and increase efficiency.

[WannaCry]

i think it will not get that much dump,. but the exchange credibility will go down as security is the main thing in one exchange ( unless this hack was all for drama  )..

[Lund94]

I think its time to buy some :-) - It might've bounced 2 or 3 $ downwards, but this wont kill the coin so im pretty sure that we'll see it rise again.

[klaaas]

I think its time to buy some :-) - It might've bounced 2 or 3 $ downwards, but this wont kill the coin so im pretty sure that we'll see it rise again.

vs btc it is is getting a harder hit, cmc at the moment (-6,09%) and still going down. Wonder if we will see a bottom today but it i would not count on it with btc swinging up.