A large cryptocurrency holder forced Binance customers to buy up unpopular tokens

Today, a large number of altcoins (OM, AMP, NEXO, POLS, SUN, ARDR, BIFI, XVS, ARK, LOOM, OSMO) were pumped on Binance — the activity started at night and is almost over.

At first, the cryptocurrency community thought that some hackers had stolen the APIs again and wanted to use them for a pump. That is, their accounts were allegedly planned to be used to increase trading volume and subsequently sell their own token balances, which is exactly what happened recently.

However, Binance, represented by the head of the platform Чанпен Чжао" href="https://noworries.media/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao (CZ), denied this information. CZ said that the company is keeping an eye on the situation and has not yet said anything about the hackers' activities.

In his opinion, it was one «whale» (a large owner of cryptocurrency assets) that transferred money to the exchange (hackers usually do not make deposits) and began buying up assets. Other market participants followed. There is no connection between the accounts.

Taken together, the seemingly panicked situation now looks comical — one major player started buying up cryptocurrencies, and small traders followed suit and bought altcoins at inflated prices. The editorial team can only watch the situation develop. Subscribe to our telegram channel if you want to keep up with all the news.