@BOMBERuss 27 August 2022 more from that month

The policy of the #Binance exchange is increasingly being criticized by users. Over the past week, Binance has made several decisions that have caused reasonable criticism of its users. The point is that the owners of #ETH #cryptocurrency balances and other tokens related to the #ERC format will not be able to manage the balances. https://noise.cash/post/1z8qmw9x The point of user criticism is that if the developers cancel the hard fork, then the price of ETH and ERC tokens will drop sharply. In this case, holders of blocked deposits will not be able to exit the assets. We cannot rule out such an option – several ERC deposits will depreciate to zero if the developers of their smart contracts suddenly have problems working on the new #blockchain. To some extent, the logic of the exchange's actions during the hard #fork period can be understood. Binance does not want to be subjected to additional criticism later, saying that it did not foresee possible problems with the transition to a new blockchain. However, this is not the only claim to Binance. In particular, one of the owners of an account on the exchange under the nickname "Tezos Baking Bad", made a claim to the #exchange that she stole $ 1 million from his corporate account, although he passed all the required #KYC procedures. In turn, Binance indicated only that the account was indeed blocked, since there was a request from law enforcement agencies. But the company has not shown any evidence, not even a court decision. #Tezos Baking Bad contacted the US Department of Justice to clarify the problem, but he was never provided with an answer. In fact, the exchange wrote off $ 1 million in favor of third parties and did not incur any legal responsibility for its actions. It is hardly worth counting on the fact that the exchange's #policy will undergo serious changes in relation to users. For Binance, it is more important to show loyalty to government agencies and law enforcement agencies in order not to have legal problems with them. Given the fact that Binance has launched the #LERS system to transmit user data to regulators, the exchange puts loyalty to the authorities at the head of its policy.