Market manipulation? Binance system upgrade coincides with BCH fork

13 Nov, 2018
by David Robb
News
Market manipulation? Binance system upgrade coincides with BCH fork

Binance has announced a system upgrade for November 14. This means that the exchange will be temporarily unavailable, and many observers are growing suspicious that this is timed to coincide with the upcoming Bitcoin Cash (BCH) fork.

In an official blog post, Binance claims that the scheduled maintenance will last an estimated eight hours, during which time "we will suspend deposits, withdrawals and trading. While we don’t want to inconvenience our users as much as possible, we constantly upgrade our platform to give you an even better trading experience, and this upgrade is part of that endeavor."

For better or worse, a large part of the crypto community is always eager to find evidence of market manipulation by whales and major centralized entities like Binance, and this latest announcement has only added fuel to their fire. The biggest and most influential exchange being unavailable to users right before a hugely contentious network split by one of the largest cryptos definitely seems like a strange coincidence.

Read more: FUD ensues as Binance maintenance extends past 6 hours, CZ jumps in; Bitfinex halts trading for an hour, faces accusations of manipulation

Many observers are willing to take Binance at its word, as long as it provides evidence that this "scheduled" upgrade was planned before the BCH fork was announced. Others are jumping ahead to directly accuse the platform of abusing its user's trust in order to manipulate the markets for its own profit.

Read more: Binance announces support for Bitcoin Cash fork; Binance CEO tweets: More manipulation in traditional markets than in crypto

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