Binance trading account hacked by

© Jakub Porzycki via Reuters Connect – Cryptocurrency news has certainly been buzzing over the past few days, and more for the worse than for the better…

In a new episode expected to help undermine market confidence in cryptocurrencies, , the 56th largest crypto by capitalization, nearly doubled in value in about 15 minutes on Sunday afternoon before seeing the core of its gains evaporate almost as much quickly as they had been registered.

Starting from around $6.40 around At 2:25 p.m., Axis Infinity reached a high of $12.44 around 14:40. By 18:30, AXS had recovered to a low of $6.9 and is currently trading at $7.3.

The reason for this sharp increase followed quickly canceled? Another case of piracy! In fact, a major crypto trader known on Twitter (NYSE: ) as CarlosOMFG announced that his Binance trading account was hacked and the hacker bought AXS for $1 million.

“If you’re wondering why #AXS is pumping. Someone somehow bought a million dollars from my @cz_binance @binance account. I have multiple security levels, no one has accessed my account… WTF! I have just got FIXED,” he tweeted.

The Binance boss shared CarlosOMFG’s tweet and gave an explanation himself, saying, “Carlos confirmed that the unrecognized commands were due to his API key being leaked. It only has one active API key and it was used on Skyrex, a crypto trading bot platform . We will try to disable all API keys that were used by Skyrex and figure out how to identify them now.”

These explanations did not stop CarlosOMFG from receiving more threats and accusations that he lied and deliberately orchestrated the Axie Infinity pump. The matter must therefore be followed.

What is Axie Infinity and AXS Crypto?

Finally, note that Axie Infinity is an online game universe that revolves around Pokémon-like creatures known as Axies. Players can collect Axies as virtual pets and strive to fight, breed, collect, breed and build kingdoms for their Axies. The game based on uses a design that allows players to own their virtual assets and rewards players who are able to reach an advanced skill level.

Axie Infinity Shards (AXS) is the ERC-20 governance token for the Axie universe. It can be considered the native currency of the game and its holders are entitled to rewards if they deposit their tokens, play the game and participate in important governance polls.

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