Binance To John Mcafee: Don't Spread False Information

in cryptocurrency •  9 months ago

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Late in the evening of February 7, Binance unexpectedly closed its doors after experiencing unforeseen server problems. Although it was not a pleasant situation for retailers or anyone with a large amount of liquidity on the popular exchange, the company kept users up to date with the situation with an update:

"Due to a significant increase in users and trading activity, Binance has to extend the system upgrade and is expected to be completed at. 14:00 (UTC).

Our team is working hard to complete this upgrade as quickly as possible. We will publish a message to all users if they are done in advance of the schedule.

Payments and trade during this period will remain suspended. We apologize for the inconvenience and thanks for your patience."

Despite the clear communication from Binance, some opportunistic FUDsters ran on the opportunity to acquire some of the spotlights - including controversial cryptocurrency bull John McAfee.

Posing as a journalist who only seeks to keep his followers as up-to-date as possible, McAfee tweets the following:

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If you've learned something from McAfee's Twitter account over the last couple of months, it's that you should not believe in his rumor-based speculation. Binance certainly had none of it and quickly put McAfee in place by professional tweeting:

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Checking Binance's wallet address actually confirms that the funds are safe. They currently have over 32,230 BTC, which is worth about $ 255 million. Although it is only Bitcoin, it is reasonable to assume that all other cryptocurrency holdings are also secure.


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People who spread false information can, in the worst case, even destroy whole companies and lifes!
It makes me really angry that there are so many people out there telling things that simply aren't true or only speculations, just to gain more followers, likes and whatever. They push themselves by pushing others down. That's a sign of mentla weakness in my eyes.

I hope McAfee didn't post that a bad intention as this would be more than a mean move. Rumors about hacking combined with the word cryptocurrency, which makes a lot of people still nervous or insecure as they almost know nothing about this and so don't really trust it anyways, is like poison to companies in the crypto sector.

Instead of people informing each other about the technology that surely will play a very big role in our future, a lot of people still spread rumors that can cause bad things to companies and scare potential new customers.

I hope people start to think more about what they do, before they speak. If you aren't really sure on whether an information is right or wrong, better be silent before harming others. It's hard to take a rumor back and rehabilitate the own reputation after such a wrong information.

Thank you for sharing this case and telling your opinion to us! :)

As Buddha said:

"If you propose to speak, always ask yourself, is it true, is it necessary, is it kind.” :)

Best wishes!


my binance is down ... so is my kucoin... havent been able to log for 24 hours..
ive realized not to hold any value ever in an exchange... luckily all my real goods arent on there but i have all my little altcoin positions on there because there aint no wallets for most of them yet....


What I noticed is that works now but does not. You can verify this information in binance facebook forums. trying to help out :)


confirmed @johanflod you can also trade and withdraw steem on binance which is pretty cool.


Oh no, that sucks :(
Luckily you have some real goods and some altcoins left! (Even if there isn't a wallet for most of them yet...)
I hope they'll find a solution for binance and kucoin, soon! :)


Fully agree with both Buddha and you.


Thank you for reading and your nice comment :)


You're right, just do not feel angry <3


Aaaaw thank you :) <3
Now I don't do anymore :)


McAfee is clever, but very unconscious. We can expect any shit from his Twitter page.


100% agree with you.
When the head of a huge.... massive cyber security company says: there is some issue with security..... all the participants in the space: stops and listens..... and then whether you want it or not: news and rumours spreading at wildfire speed..... And this can damage or effect in negative way the company involved.
This reminds me D.Trumps tweeting for some reason.....

I actually do think they had something major.
Maybe it is hack, maybe it is human error...

But looks like they doing HUGE discount to bring people back... a half desperate move to regain reputation?


well personally I'm scared to use them anymore... like 70% that's an excessive discount... that's like closing out sales.... just saying. I hope I'm wrong because if that sale is real I'm gonna buy a bitcoin on those prices.


but sadly that 70% is only for the fees


@wmnstudies it’s 70% on FEES not on the crypto on their exchange lol you are right if btc was 70% off I would sell my house to buy some 😜😂


So, instead of paying $100.10 ($0.10 fee) you pay $100.03 ($0.03 fee). Don't buy bitcoin.


With launching RobinHood exchange, and other zero fees exchanges, I think Binance is just probing the waters. They want to see how the revenue will increase / change when fees reduced that much. This might be just first step, into cheaper fees around on all of the exchanges. The overall winner will be the customer.

The fact is that it is so easy to spread these rumours because there are sooooo many weak hands in the market and many people are living in fear of what is going to happen next with their coins. When you already have so many people with this attitude then it will be easy to spread fud. The fact of the matter is that Binance is still one of the biggest and most trusted exchanges to deal with. From my perspective they have been very transparent. We knew that there was a system update coming because they sent out a message about it and tweeted about it. The fact that they are taking the time to ensure that their systems are running at optimal capacity and efficiency makes me think they are looking out for the best interest. Now, is there a chance of hacking? Sure, there is with everything online and we all know that going in. That is why we all have our coins in secure cold wallets offline or in various paper or web wallets so that in the event that something happens with an exchange you can know that your crypto os safe. Right everyone? The reality is that not enough people are being careful with their crypto and they leave it on the exchange rather than store it cold. If you did have it stored and still wanted to trade you could simple use one of the many other exchanges you are signed up for. The people I do feel for are those who have their crypto tied up in a pending order and it has been stuck on the exchange. Those people are victims of bad luck and timing. I'm sure it will all work out for them in the end but I know if I had lots of money sitting in limbo I would be concerned as well.


The social networks + technology enables to spread the real news / fakes news at the speed of light.

Never did like that idiot. He really needs a smack to keep him in check, they play around with mainstream news/media and have no clue the damage they end up causing. By simple statements they could quite easily cause irrational panic and tons of people who only follow mainstream news could end up pulling out of Binance thereby collapsing something that was working perfectly fine.


Agree. The guy buy the coins before he promoting them.

If you listen to a word John McAfee says, and actually take them seriously... you have bigger issues then your Binance account being hacked.

Good information bro
These people need to shut their mouth and stop spreading rumour
Binance is great
Thanks for the information bro


hi well i'm just new here i'm trying to prouve to my youtub followers that steemit is real .. and i will appreciate if you follow me <3


My pleasure

Personally I trust the Binance platform because it is the most secure. Thank you for reassuring US @tradewonk


hi well i'm just new here i'm trying to prouve to my youtub followers that steemit is real .. and i will appreciate if you follow me <3


Binance is a great platform but what if McAfee is right?


I also believe in Binance, wich i also invested in their coin.

I actually think, that they handled the crisis communication part very well! I had no need to use Binance the past 2 days, but even I couldn´t oversee the huge amount on information they were giving out. I´m no big fan of their usual way to communicate (especially after introducing STEEM last week and giving no timeline, when withdrawals would work!), but here they really did everything right to keep the trust of their customers. ...and McAfee is a douchebag anyways 😀

Wonder what issue McAfee has with Binance? It seems like he's randomly picking a fight

God.. I wish I will have a Binance account...

Vote beck ya

Yeah there are many people out their spreading rumors all the time. But the main reason those rumors often reflect to the market is that many "investors" just invested because they heard they will get rich quick. Those people have no clue about the technology, projects and visions behind Cryptocurrency and therefor get scared quickly and spread the rumor further themselves.


hi well i'm just new here i'm trying to prouve to my youtub followers that steemit is real .. and i will appreciate if you follow me <3


Just to let you know you will be flagged for sure if you continue spamming like this! Just write interesting post about topics you are really into or engage in a conversation adding content to it, and you will get your followers eventually!

McAfee is the ultimate FUD, FOMO, pump&dump generator in the crypto world these days.
The fact that people are influenced so much by what a cocaine sniffing grandpa has to say proves that the majority of crypto investors are as naive as the guy below:

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I was able to create an account with binance because I believe in them, and I know they will keep to their words

the test can produce false results

this explains why i cant access my account, its been down all through , i hope its not a hack but a system upgrade

upvoted and followed! could you kindly send me a follow back?

Good work,nic post.

You good post.
thank you very much for sharing @tradewonk

Nice updete

Honestly fair play to Binance for not taking his shit, i dont get why he talks like hes the be all on crypto authority


But we are glad they are back and better
70% is alot

Just followed you for more information

I so dislike people who spread false information. Ugh! Makes me ANGRY! Good post tho!

Thank for the info bro.
McAfee writes anything that gets him traffic so am not surprised just don't believe a thing he says.

As usual, well done Binance!

Before I beleive to McAfee, I even follow his twitter account hoping a good reads. However, its turn out to be a trash talks and bullshit rumors plus speculation.

Someone still trust McAfee ? :)

Nothing change/

Too much fake news these days...


hi well i'm just new here i'm trying to prouve to my youtub followers that steemit is real .. and i will appreciate if you follow me <3

Whales are playing to decrease the coin values and they will make profit from these games.


FUDers are everywhere, bankers are scared as shit and try to gain some influence on the cryptomarket. Observe and stick to the fundamentals is my advice

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This is so wrong, I don't know how much McAfee has invested in cryptocurrencies but trashtalking about one of the biggest exchange is like hitting yourself, is like bitting the hand that feeds you. Who does he think he is?

the success of the process and the process is not instant we must be precise in taking action

One of the good things about exchanges being down is to move your assets to a ledger or mew wallets, otherwise we would still be hodling coins on exchanges.

I trust Binance more than Mcafee.

Con respecto al mercado de la criptomonedas hay mucho ruido. Hay que saber discernir las fuentes, para validar la información. Los sentimientos son encontrados: miedo, incertidumbre, riesgo, euforia, etc.

Mcaffee is a fuckin idiot I use to like him until he started that coin of the day junk I mean I was already in all those coins so I profited lol but after the xvg deal and the exposing and how he does what he does for self gain isn’t cool , the issues isn’t self gain it’s how he does it , he makes it where you now question everything he says

The lack of liquidity in these markets makes it so easy for prices to be derailed by fud from people with agendas. Good to see this attempt shot down with logic and sound reasoning!

Fear not people. Binance makes millions from your trades, they are not going anywhere.

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Really professional way to handle the situation. Always communicating. Good job Binance.

he is making a lot money that's for sure

John mcAfee is a scam. He's becoming like bloomberg anymore lol but what are you thoughts on what are your thoughts on Free Ethereum through ETH Invites?

Okay new to the crypto world here, so outside observer.

  1. Did they inform about plans?
    a. Seems like it
  2. Did they keep people informed?
    a. Seems like it.
  3. Was mcAfee in the news 3 months ago concerning Crypto anything?
    a. I am not sure. I do not recall hearing anything from him prior to the Bitconnect crap.
  4. Is McAfee shilling for Polinex or another company?
    a. Not sure.
  5. Did anyone lose money during the upgrade?
    a. haven't heard of any loses.
  6. Did they say why they are giving the discount on fees?
    a. Yes, they felt bad about how long the upgrade took.

Seems to me they acted honorably , that is a rare occurrence in the business world. Just my non-crypto guy view.

I like John McAfee for his some of his principles and his contribution to crypto community.

He reply to his own tweet in a response from Binance..

"I'm sorry but I have received dozens of reports similar to this. Not trying to create FUD, just trying to understand"

The problem is people are have very less ability to think for themselves and After seeing his response I can easily understand its not FUD.


I just started using Binance and i love it. I set up my account and stated trading on my phone while on lunch at work. Great moble platform and not to hard to learn to use.

Twas humorous lol.

I've come to regard McAfee as nothing but a crypto whore. He'll pump any coin that pays him. I'm not convinced he really even cares about the technology anymore. I use his endorsement as a "don't buy"

One of my friends treats McAfee's word like gospel. This guy is a raving lunatic and I've worked with drug addicts and homeless people who speak more coherently. He may have been a genius in the past with the things he has produced but that doesn't mean he knows anything about the future of this tech. His crypto recommendations are merely pump and dump opportunities and they serve no purpose but to spread more FUD within this space.

We all know that John McAfee is one of the biggest boss to give the people info to liberate them in the 21st century. I've been using Bitshares and I want to recommend it to all my Steemians before it's too late..


Hey guys, just ignore him.
When I hear Mc Affee, it comes up to me. (and not only because of the really bad program :-))
Do your own research and make your own mistakes. But do not run after someone blindly.
However, if you want to get involved in it, you should strategically hedge your positions with buy and sell orders.
But as the majority will not do that, but will only run after the rumors - lots of luck

Remember, there are always very few winners here

This man engaged on several occasions in sort of a pump and dump schemes on crypto assets. I'd be rather suspicious when he calls to buy a specific token as many of his twitter followers got badly burned.

please help me to follow