Bitcoin is plummeting after one of the world's largest cryptocurrency exchanges suspended withdrawals

pulse

March 7, 2018 5:16 PM

“We are investigating reports of some users having issues with their funds," the exchange said.

Cryptocurrency exchange Binance said it had halted withdrawals Wednesday morning as it investigates "unauthorized market sells. "
Bitcoin was plunging on the rumours of a possible hack on the popular exchange, and the digital currency was down as much as 10%.

Bitcoin plunged more than 10% Wednesday morning, as low as $9,600, after rumors began to swirl on Twitter and Reddit that major cryptocurrency exchange Binance had been hacked.

Binance is one of the largest cryptocurrency exchanges in the world, with $1.77 billion worth of digital coins on its platform, according to CoinMarketCap.

"WTF is happening! Binance just sold all my alts at market ‎rate and I have got just the Bitcoin now," one Reddit user said

"We are investigating reports of some users having issues with their funds. Our team is aware and investigating the issue as we speak," the exchange said in a statement. "As of this moment, the only confirmed victims have registered API keys (to use with trading bots or otherwise). There is no evidence of the Binance platform being compromised."

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