Scandal with a vote for new coins on Binance

Scandal with a vote for new coins on Binance

One of the largest cryptocurrency exchanges, Binance before adding new coins to your listing offers users to vote for them. The cryptocurrency that wins the vote is added to the exchange.

However, the results of this last vote, which was announced five hours ago became a big surprise for everybody. The fact that the favorites voting has long been considered ELASTOS and WEPOWER. And indeed they scored 63% and 25% respectively. But the winner was announced as the Zilliqa (ZIL), which scored only 7% of the vote!

Both the real winner ELASTOS and WEPOWER were disqualified for “cheating”.

What happened actually?

The fact that in order to participate in the vote, users must pay about 0.1 BNB (Binance coin is a special coin issued by the stock exchange). But although the amount is small, willing to pay for the possibility of voting is not enough.

Therefore, ELASTOS, and WEPOWER spent BNB airdrop to compensate for his supporters the cost of voting, and the management Binance regarded such action as fraudulent and awarded the victory coin, which took third place.

The outcome of the vote has already begun to affect both former favorites. According to coinmarketcap.com ELA fell by about 5%, and WPR 16%. And probably both coins will continue to fall in the near future, but the price of ZIL on the contrary sharply increased by almost 19%.

News tags
Let's Disqus