Bitcoin SV (BSV) Founder Craig Wright recently said that everyone should remove their crypto-assets off of Binance as soon as possible due to another ‘Mt. Gox’ scenario brewing. The Binance CEO responded by calling him a fraud.
Binance has had a busy month, fending off critics and conspiracy theories about its internal problems. However, the alarmism over the exchange was amplified recently by Craig Wright, who apparently couldn’t help but join in on the cryptocurrency-related drama.
Binance Is ‘Another Mt. Gox’
A few messages by Craig Wright have been circulating on Twitter warning users about Binance. “I would suggest that ANYTHING you have on Binance gets removed.”
Wright claims that any and all crypto-assets on Binance are at risk and that we are looking at another ‘Mt. Gox’ like scenario. “Only have what you are happy to donate to scammers and the U.S. government on there,” he continued.
The message was tweeted by BSV fan River (@riverish333). Bear in mind, River also believes Craig Wright to be Satoshi Nakamoto so take this alarmism with a grain of salt.
If you have ANY value on Binance remove it immediately! Take this warning SERIOUSLY!!! pic.twitter.com/mqXaFvnDhJ
— River (@riverish333) February 23, 2020
Although Binance has been having persistent issues involving some unscheduled maintenance, Craig Wright has demonstrated a penchant for bluster and fake news. He previously said he would produce the ‘private keys’ for Satoshi Nakamoto’s genesis address on Bitcoin but has since failed to bring forward anything. Wright seems to be exploiting the real anxiety surrounding Binance to his own benefit for some buzz, which is par for the course.
Zhao Hits Back
Binance CEO Changpeng Zhao held back nothing in his retort to Wright’s claims, simply stating that Craig Wright ‘is a fraud.’ He goes on to say that ‘investing in a fraud never ends well… time will tell.’ In April 2019, the exchange officially delisted Bitcoin SV (BSV).
CSW is a fraud. Investing in a fraud never ends well. See below. Time will tell. https://t.co/OIxbZguhnv
— CZ Binance (@cz_binance) February 24, 2020
The replies were flooded with Bitcoin SV fans who were quick to favorite each other’s tweets en masse. The insults ranged from calling Zhao a crook to touting the apparent superiority of BSV over all other cryptocurrencies.
Binance; zero patents, zero understanding of BitCoin, unknown office locations, lies about a hack, closes exchange when the market crashes. Yet CZ has the audacity to call CSW a fraud??? CSW is the only human with crucial blockchain patents, not Google or BOA. You are a FRAUD!
— DJ (@cisselic) February 24, 2020
Overall, it seems unlikely that Binance is on the brink of an implosion. One good way to gauge investor sentiments is through Binance Coin (BNB). At the time of writing, BNB is up 0.81% against Bitcoin (BTC) and continues to hold above the $20 price point despite the rest of the market bleeding.