After Syscoin Pump, Binance Went on Maintenance
This morning, the Binance Exchange has suspended all trading operations. This was done after the price of the SYS token was 96 BTC. It is worth mentioning that in the official Twitter account of the exchange, the information about the stopping of trades and the attack on the blockchain of the crypto asset was confirmed. It should be noted that even yesterday, the cost of Syscoin was 0.00004 bitcoin.
It is known that more than one billion Syscoin were mined from one block. Despite the fact that the total amount of emission of this digital asset was set at 888 million. The company has not yet been able to determine what exactly happened, and it is clear that the problem is in the blockchain.
Jameson Lopp, who is a bitcoin developer, expressed his assumptions about this situation. In his opinion, hackers could exploit the vulnerabilities in the blockchain-protocol:
“Breaking the monetary supply rules for a cryptocurrency can’t be accomplished via a 51% attack; this indicates that a flaw has been found and exploited at the protocol level, it’s likely similar to the buffer overflow vulnerability that was exploited in Bitcoin in 2010 that allowed someone to create 184 billion BTC.”
Note that after the appeal of representatives of Syscoin in Binance, the developers of the crypto exchange deleted all existing API keys and created new ones. This was reported in the Twitter account of the trading platform:
“Binance has removed all prior existing API keys and has now re-enabled API key creation. API users may now recreate their API keys from their user account center. Another announcement regarding the re-opening of trading will be made once the maintenance is complete.”