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Incident Recap on Irregular SYS Trading

Fellow Binancians,

At 2018/07/03 20:18:00 (UTC), irregular trades were detected from a number of API users, triggering our internal risk management system. As such, Binance made a timely decision to suspend trading, withdrawals and other account functions.

We have since taken the following actions relating to this incident:

  • To protect the safety of our API users, we have removed all existing API keys and requested all API users to recreate their API keys. We implore our users to take care of their API keys going forward:
    1) If you are not a regular API user, please do not create an API key.
    2) Do not give any third-party service providers access to your personal API key.
    3) Use the IP whitelist functionality to ensure your key is only accessible to you.
  • Rollback of irregular trades.
  • For the users who were negatively affected by choosing to trade the rising SYS price, Binance will offer zero-fee trading between 2018/07/05–2018/07/14. If you traded SYS during the incident and believe you were negatively affected, please open a support ticket.
  • For all other Binance users, we will offer a 70% rebate on the trading fees paid by you between 2018/07/05–2018/07/14. The rebate will be given in the form of BNB calculated using the closing price on 2018/07/14.
  • To protect the future interests of all users, Binance will create a Secure Asset Fund for Users (SAFU). Starting from 2018/07/14, we will allocate 10% of all trading fees received into SAFU to offer protection to our users and their funds in extreme cases. This fund will be stored in a separate cold wallet.

Since founding, Binance has always upheld our core values of spreading crypto and protecting users. Binance has achieved explosive growth in the first year. With this growth, we also experience many problems. We must reflect upon these problems, learn from them, and improve ourselves. We know in the course of making history, we will be tested again and again. We believe every test makes us stronger. And only if we fight together, can we move the industry forward. We thank all of our supporters, those who nudged us forward. We welcome your comments, suggestions and feedback. Thank you for being with us on our journey. Binance will continue to push forward.

Thank you for your support!

Binance Team


Find us on




Anybody receive the trading rebate from the sys trading incident?

"For all other Binance users, we will offer a 70% rebate on the trading fees received from you (does not include referrals) between 2018/07/05 - 2018/07/14. The rebate will be given in the form of BNB calculated using the closing price on 2018/07/14." -binance


Why the ~7,000 BTC Withdrawn from the Binance Hot Wallet During the SYS Incident is Not that Suspicious

There's a rumour going around right now that the 7,000 BTC withdrawn from Binance's hot wallet.

Here is the link to the transactions under scrutiny.

Many people are waving this around as evidence that funds were involuntarily withdrawn from Binance’s hot wallet .So far, Binance has not responded to any of these accusations, which has added more fuel to the fire.

This is a clear misconception that I'm going to address.

Understanding Bitcoin Change

When the output of a transaction is used as the input of another transaction, it must be spent in its entirety.

Sometimes the coin value of the output is higher than what the user wishes to pay. In this case, the client generates a new Bitcoin address and sends the difference back. This is known as change.

Just like when you spend $20 to buy a $2 ice cream cone

Binance intelligently batches a bunch of withdrawals and sends all of them out in one transaction. However, it is not uncommon for there to be large amounts of change sent back to Binance’s change address.

I used the Blockexplorer API to pull a list of transaction outputs from April 30th to July 6th. Then I sorted them by transaction output in descending order.

As you can see, there a number of large transaction outputs above 2,000 BTC. This is because change is being sent back to the return address.

I’ve uploaded all 77,374 transactions from this wallet here. You can look up the transaction hash on BlockExplorer to confirm it is real.

I’m not saying I know for sure that the withdrawal was authorized by Binance, but high output transactions above 2,000 BTC are not out of the ordinary and is certainly not evidence of theft.


I analyze a ton more data about the SYS incident, and compare it against the VIA incident in March.

If you want to read more about what I've found, check out the full article here.


Aworker is one development platform that uses blockchain for recruitment

The platform of Aworker is creating a reliable as well as a decentralized solution for both companies and employees. It is going to do so through the use of smart contracts and Ethereum Blockchain. The solution that it is going to provide includes skill verification, market area, and an autonomous rating of reputation.

Aworker provides workers a chance to search for a job and earn money on the network of Ethereum Blockchain. Companies can also make use of this platform’s skill verification and decentralized rating system through the use of smart contracts.

Aworker is a recruitment platform based on the technology of Blockchain. This platform has been created to disrupt the existing market for recruitment that had a volume of $429 billion in the year 2016. Aworker is going to assist people in finding a good job through the use of Ethereum Blockchain and its WORK tokens. Additionally, it is going to help the companies to find a suitable candidate to fill the vacant job positions.

Overall, the target of Aworker is to create a great environment for work. By doing this, they are going to provide opportunities that will check the professional competence of the candidate without involving reputational agencies or HR.

Nowadays, there are three major problems persisting in the business of recruitment. Firstly, it is very difficult to find good workers since companies cannot always access them perfectly. Secondly, recruitment is an expensive process. An organization has to incur an expense of 8,000 dollars for hiring a worker at a job of medium level. The third problem is the difficulty in assessing the candidate. One cannot judge the professionalism of a particular candidate on the basis of the data given by him or her.

This platform desires to create a place where people receive rewards for their achievements, abilities, and skills at work. The use of Blockchain will offer more reliable details about the candidates, which are not provided in traditional companies nowadays.This platform desires to create a place where people receive rewards for their achievements, abilities, and skills at work. The use of Blockchain will offer more reliable details about the candidates, which are not provided in traditional companies nowadays.


BNB is a Stablecoin

I remember CZ being on a podcast and mentioning that a lot of Binance users use BNB as a stablecoin, and he was chuckling about that. I can't remember the source, and I'm currently writing an article on Binance Coin and want to find it.

Can we use the wisdom of the crowd and figure out where that was from? I've spent far too much time going through podcasts and I think the community here might have a better memory than I do!


Binance fee calculation BNB conversion rates

According to the explanation, the rate for converting the trade receivable to BNB is updated every second.


  1. How do we concretely get this rate through the API?
  2. How is the "market price" written in same section determined? Is it going to be a market order to yield BNB? Or will the rate be something like the mean of the current bid and ask? Or the last done price?


BNB should go up very soon! It should, worst case scenerio if it doesnt this week, the trend of the 5 way bottom gets messed up. get out of BNB. But right now I can tell you, its going to go up! Technical analysis tells me yes! We are in control of the price of this coin, its way over sold, history tells us what goes down must go up!


BNB blockchain explorer

Is there a proper blockchain explorer for BNB? I know Binance says they will announce burns on the blockchain and I know etherscan is a form of blockchain explorer for coins. I was just wondering what is the best way to view the data/transactions going over the BNB blockchain? Any sites, or tools/apps that are the best to do this? Thank you.


Will binance support DRVH Driveholic token airdrop ?

Will binance support DRVH Driveholic token airdrop ?


How to know when token swaps are complete?

Hi all,

I am sending ONT and VEN/VET to Binance for the token swaps. Is there anyway to be sure when the swaps are completed so I can send them to their respective wallets?



Can't log in to Desktop Client. How fix it?

Having trouble logging in to the Desktop client myself - Brings up the puzzle piece and keeps saying "success" and then right afterwards 'Prompt' - "verify failed, please reload and try again" and brings me back to log on. I have windows 7 and latest IE 11.

Has anyone know a fix for this?


Identity Verification

I got an email that reads:

"Hello To ensure the safety of our users, we have done a second round of verification on the documents submitted for your account. Your documents have failed this verification due to Unable to read your documents."

What is going on? If you were unable to read the documents, why were they previously accepted. You claim its for safety. This makes no sense. The documents submitted were fine and previously accepted which means they were fine. Makes no sense.


Single buy and sell orders DENT, MFT, KEY

Anyone else see the order books recently for these sub 10 cent coins? There are orders going through of 1 coin. This wouldn't normally be an issue except for the fact that Binance requires minimum order sizes on these coins. Really worried that Binance is manipulating these coins as no one else could put in single orders on any of these coins. You can see it happening on MFT right now. Seems when there is a spike in volume or price these single orders kick in and are either on the buy side or sell side.

Community Details





Binance is a blockchain ecosystem comprised of Exchange, Labs, Launchpad, and Info. Binance Exchange is one of the fastest growing and most popular cryptocurrency exchanges in the world. Founded by a team of fintech and crypto experts — it is capable of processing more than 1.4 million orders per second, making it one of the fastest exchanges in the world. The platform focuses on security, robustness, and execution speed — attracting enthusiasts and professional traders alike.

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