During the afternoon of this Tuesday, July 3, Syscoin announced through its Twitter @Syscoin social network account, that it initiated an investigation into its blockchain after the price of its cryptocurrency grew up to 245% in 24 hours, after a purchase. of 1 SYS, valued at a few cents, with 96 BTC, equivalent
"We are investigating a possible problem in the blockchain of Syscoin, nothing is confirmed, but we have asked the exchange houses to stop the trade while we investigate," he said on the platform.
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Until now, the cause of this impulse has not been officially announced. The shot in his quote raised a wave of comments in specialized forums as well as social networks.
Twitter users allege that the failure could be presented by an apparent purchase of 1 SYS for 96 bitcoins in Binance , which represents a value of about 627,639.60 dollars at the current rate of CoinMarketCap .
"Or something is wrong with the API Binance, or bot trading syscoin someone bought one for 96 BTC , " wrote user @ AdamBouhmad.
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Syscoin has not confirmed or denied this claim as has not been reported on a possible hack, one of the rumors that have spread most after the project announced the investigations. It has also been speculated that the purchase was a mistake of some merchant or a malfunction in the Binance platform.
Coincidentally, an hour after the hacking, Binance began a maintenance of its system in which it suspended its services of commerce, withdrawals and other functions of accounts. He then announced that "due to irregular trade in some APIs", they would remove all the API keys as a preventive security measure. In his last communication , he established that all the existing API keys had been removed, while they rehabilitated the creation of API keys for their users. Finally they established that they would announce the trade would resume on their platform once they complete the maintenance.
The volume of market capitalization of Syscoin is about 152 million dollars and its current price is $ 0.2838, although its highest price reached today was $ 0.4925, reaching a market capitalization of 264 millions of dollars.
Syscoin is a cryptocurrency with its own blockchain that allows companies and anyone to commercialize assets, goods, digital certificates and data in a secure manner. It offers services of decentralized markets, distributed management of certificates, among others. Your token is part of the main cryptocurrency markets such as Bittrex and Poloniex.