Binance has suspended the withdrawal of some assets

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The world's largest cryptocurrency exchange announced that it has temporarily blocked some of the accounts that managed to profit from the recent abnormal volatility of a number of cryptocurrencies.

Binance explained its actions as “anomalous price movements in certain trading pairs”:

“We are aware of abnormal price movements inselect trading pairs on Binance, including assets like SUN, ARDR, OSMO, FUN and GLM. This activity is not related to hacking of accounts or theft of API keys, the funds are safe.”

The exchange team decided to hedge against the backgroundincident that happened the day before, December 10, when the prices of Cosmo (OSMO) on Binance instantly increased by 460%, and then fell almost to the previous level. Binance CEO Changpeng Zhao assured that the exchange
conducted an investigation into abnormal volatility in quotes associated with “market behavior.”

Zhao warned: the cryptocurrency platform has temporarily blocked the ability to withdraw assets for accounts that used abnormal fluctuations to make a profit:

"We are aware of the concept of too muchinterference from the platform, “too centralized” attacks and so on. The question is to what extent we should intervene. Sometimes these things are necessary in a free market, and we had to do it.”

Binance recently started receiving complaints. Its clients claim that the exchange does not return money stolen through the fake 3Commas website.