Binance Halts Trading Due to One Syscoin (SYS) Selling for 96 Bitcoins (BTC)
Binance has done something extraordinary, which is halting trading after a single Syscoin was sold for 96 bitcoin on its exchange. Additionally, the blockchain has been compromised, further providing reasoning for the halt of all transactions.
According to Jameson Lopp, a Bitcoin developer, “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 by 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.”
Further, various sources surmise that Syscoin’s attack may be related to Binance suspending the trading. Because of the sale, Syscoin’s price increased by 85 percent.