Cryptocurrency exchange Binance has spoken out against accusations of market manipulation and said it "reserves the right to take legal action to protect its interests." According to the company's message:
"Upon learning about allegations of market manipulation made against us, we want to make our position regarding this critical subject matter clear. Binance has never traded against our users nor manipulated the market, and we never will."
Binance has also said it is hopeful that as crypto companies' relationship with regulators strengthens, the number of "attackers, including those posing as Binance employees" will decrease.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
Last August 21, a Twitter user under the pseudonym RealFulltimeApe identified himself as a former Binance Europe employee and accused the platform of defrauding users. While the tweet and account have been deleted, a screenshot of the message has been posted on Reddit.
Earlier it has been known that a group of international traders has filed a lawsuit against the crypto exchange, accusing it of failing to provide access to infrastructure during peak load times, resulting in multi-million dollar losses.