Binance User Alleges Five Unauthorized Conversions in 97 Seconds

A Binance user alleges five unauthorized conversions took place within 97 seconds on Sunday, Nov. 8, including two round trips between USD Coin (USDC) and euros that reduced the account balance by about 10,044 USDC.

The user identified the disputed transactions as a conversion of 2.331 Bitcoin (BTC) to USDC and four exchanges between USDC and euros. The user said the four exchanges formed two round trips involving about 260,000 USDC, with the combined reduction equal to nearly 2% per round trip.

A separate EDEN-to-USDC conversion occurred between the five disputed transactions. The user said screenshots showed six transactions in all and that the EDEN conversion was the only one they initiated.

The user said Binance support linked the disputed transactions to the account’s usual iPhone but did not provide records proving the user authorized them or fully explain the conversion-price differences. The user posted complaint number CC10319344 and asked 何一, CZ and Binance’s security team to identify who initiated the trades, explain the price differences and say who benefited.