Why I’m moving coins off Binance (and you should too)

The screenshot below was posted yesterday in a crypto group I am in. Binance has been under “maintenance” for the weekend and this person was able to exploit and gain approximately 30% more ETH when sending funds out of Binance.

Even though the amount was small and the loophole closed — what other issues could be on binance that hasn’t been discovered? I didn’t try this myself so I can’t confirm the claims but I do believe the user.

THIS IS A HUGE PROBLEM

If other users have been affected we hope they are compensated by Binance. If ETH was coming out of their own coffers, then that is something they can probably cover up, but regardless should be forthcoming about. Could it be related to the “maintenance” over the past few days? Time will tell. The mystery continues…

With bitgrail losing millions from XRB/Nano, and the endless fud about Bitfinex and tether, we always have to be careful where we store our coins.

Use binance with caution please.

What can I do? Where can I send it to?

Send funds to your

• ledger nano ( https://www.ledgerwallet.com/r/8bed?path=/products/ledger-nano-s&tracker=8bed ) or
• metamask
• Or other erc20 compliant wallet
• When the FUD clears, feel free to send back to Binance.