Decentraland (MANA) suddenly attracted attention with an extraordinary pump on Binance, before trading was halted and withdrawals frozen. It is highly probable that the MANA market was affected by the API exploit on Binance, which also lifted Syscoin (SYS) to extraordinary levels, and has led to a pump in Viacoin (VIA) in the past.
MANA spiked above 1,900 Satoshi, or $0.12, up 12 cents, at one point doubling in price within minutes. At the moment, MANA looks like a coin making a regular price movement. However, it may be just one piece of the puzzle, from a series of flash pumps on Binance.
!MANA!
Additionally suspicious is the fact that someone managed to make a fast withdrawal of 7,000 BTC from the Binance wallet. The exchange requires full KYC verification for sums above 2 BTC, so the move was highly suspicious.
The problem with the flash pumps of several coins was that many believed it was a legitimate price move, and bot activity accelerated the price increase. But the following crash wiped out the value.
https://twitter.com/Edwardpumps/status/1014381205142171648
District 0x (DNT), a decentralized freelancer marketplace, also pumped after drifting near lows for a long time, but the results were limited, taking the coin just to $0.03. The effect of Status Network (SNT) was also limited, taking the token up to $0.07. Selfkey (KEY) also looked as if it became a part of the flash pumps, adding a net 20% to $0.02. The asset underwent a pump just days ago.
The series of flash pumps managed to mask as a market recovery, and in fact many sold the coins that they held for a while at extremely high prices. But the effect will be temporary.
After the API key restart, trading should be safe again, but Binance has stressed that users also need to be careful about hijacked accounts. SYS and KEY were the most actively trade assets, taking up to 30% of Binance volumes, a marked anomaly, displacing even leading coin pairings.
This article appeared first on Cryptovest
