SAFU Is Real Now: Binance Shut Down for 12 Hours Afters 1 Syscoin Sold for 96 BTC

On July 3, Binance noticed irregular trading activity of Syscoin - trading bot activity spiked and 1 SYS sold for 96 BTC. Immediately afterward, Syscoin notified exchanges to halt trading while it performed an investigation.

We are investigating a possible issue on the Syscoin blockchain, nothing is confirmed but we have asked for exchanges to halt trading while we investigate.

After the abnormal trading activity was spotted, Binance announced it would undergo system maintenance, suspending trading and withdrawals.

At 2018/07/03 20:18:00, irregular trades were detected from a number of API users, triggering our internal risk management system.

Binance made a timely decision to suspend trading, withdrawals and other account functions.

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.

For all other Binance users, Binance will offer a 70% rebate on the trading fees received from you between 2018/07/05 - 2018/07/14.

For the users who were negatively affected by choosing to trade the rising SYS price, Binance is offering zero-fee trading between 2018/07/05 - 2018/07/14.

If someone traded SYS during the incident and believes they were negatively affected, they are encouraged to open a support ticket.

The wallet will collect 10% of all trading fees and be used to protect users from worst-case scenarios such as an exchange glitch or hack.