On Early 4 July, Syscoin was Pumped about 96 Bitcoin each and that pump was Fake by Whale was doing was Market Manipulate and at that time Someone buy 11 Syscoin at the Price of 96 Bitcoin and trade 13,152 Syscoin at th price of 1.1 Bitcoin.
Syscoin Blockchain was just hacked or any technical issue in blockchain.
Binance Exchange also tweet for the all API Key will reset soon and They said that all Fund are also Safe.
Sebastien DiMichele commented:
“My understanding is that yes, Syscoin was sold for 96 BTC per unit at one point today. We saw massive bot activity, our community let us know that they were having trouble with deposits at Binance.”
“7000BTC moved out of @binance hot wallet after the syscoin api pump. binance has not issued any withdrawals since.”
This comes with news of a compromise on the coin’s blockchain, with Syscoin’s Twitter account stating: “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.”
Jamesonn Lopp, a Bitcoin developer, said in a statement to Hard Fork that the mining of many coins falls under breaking monetary supply rules. He stated:
“Breaking the monetary supply rules for a cryptocurrency can’t be accomplished via a 51% attack; this indicates that a flaw has been found and exploited at the protocol level. It’s likely similar to the buffer overflow vulnerability that was exploited in Bitcoin in 2010 that allowed someone to create 184 billion BTC.”
Bitcoin developer Jameson Lopp emailed The Next Web and explained that this issue couldn’t have been caused by a 51 percent attack. He explained:
Breaking the monetary supply rules for a cryptocurrency can’t be accomplished via a 51% attack; this indicates that a flaw has been found and exploited at the protocol level.
The blockchain explorer of Syscoin shows that over 1 billion coins have been mined in one block. The block number 87670 shows that the “value out” parameter is of 1,237,899,268.6 Syscoins. This is unusual, as the total number of possible SYS tokens is 888 million.
Current Market Cap. of Syscoin = $133 Million
Currenct Price of Syscoin = 0.00003828 BTC
Max. Supply of Syscoin = 888,000,000 SYS
