How To Build an Automated Cryptocurrency Trading Bot on Binance with Python

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TNW uses cookies to personalize content and ads to make our site easier for you to use. Numerous concerned users have taken to Reddit to complain that popular cryptocurrency exchange desk Binance has suddenly begun to sell their altcoins at market rate — without their consent and without any notification whatsoever. All my [a ltcoins] were sold and all I have is Bitcoin now.

A spokesperson for the company has since confirmed it is investigating the issue on Reddit. Please remain patient and we will provide an update as quickly as possible.

Seems that multiple people were affected. This marks a second big mishap for Binance over the last month. Back in February, the exchange desk abruptly halted all trading for maintenance.

The website ultimately resumed functionality almost a day after its promised timeframe. It did, however, make it up to users with some trading discounts. It appears that hours prior to the avalanche of complaints about wrongly exchanged altcoins, Binance was struggling with server downtime in the UK and several other areas.

The customer support rep has since told users that there is no need to change their passwords, hinting the exchange desk is struggling with a technical malfunction rather than a hack.

The company has since reportedly suspended withdrawals, according to numerous reports from users. Binance has posted the following statement on Reddit:.

We are investigating reports of some users having issues with their funds. Our team is aware and investigating the issue as we speak. 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. The exchange desk seems to suggest that the issue is exclusively affecting users who had registered API keys for trading bot applications.

However, a swath of victims on both Reddit and Telegram insist their coins were converted even though they never used the Binance API. Similarly, there are reports from API users claiming their accounts have remained unaffected. All funds are safe. There were irregularities in trading activity, automatic alarms triggered.

Some accounts may have been compromised by phishing from before. We are still investigating. We have updated the title to reflect more accurately that no direct cause for the issue has been found as of yet. Binance is still investigating the technical malfunction. Published March 7, — March 7, — Binance has posted the following statement on Reddit: Withdrawals are temporarily disabled at this time.

Mix March 7, —