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/biz/ - Business & Finance

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7993093 No.7993093 [Reply] [Original]

Someone posted this on 4chan yesterday and it still works perfectly.
I saw people making a lot by using this exploit it works on both Kucoin and Binance.
Better English this time:
1. Deposit NANO in like 10 different deposit amounts. I.e. 0.4 0.7 0.5 etc etc.
2. Withdraw all your NANO one at one at a quick time. (Low fees)
3. Binance will immediately put 1 or 2 of your withdrawals on Pending.
The thing is NANO instantly withdraws and the Pending status means nothing but that it will be credited back to your Binance balance. So before your withdrawal gets Pending it already got withdrawn to your NANO wallet and Binance will refund the Pending Order to your Balance. Thus doubling your NANO.

Keep repeating this and you're rich.
This is illegal though, I haven't abused it myself and you might get problems in the future if Binance founds out you're abusing this.

>> No.7993133

can you prove it with some screenshots and tx id?

>> No.7993214

why should a "pending withdrawal" be recredited to your binance balance. doesn't make sense

>> No.7993228

>>7993133
Jesus Christ
The state of /biz/

>> No.7993247

>>7993093
Can I try it on KuCoin since I don’t give a shot about being banned there

>> No.7993258

Nice FUD

>> No.7993260

>>7993093
So the same issue they had with bitgrail, people took advantage and stealed from the Exchange.. Pretty big news, if real nano is dead

>> No.7993278

>>7993093
>Discovers something that apparently will give him millions of free nanos.
>Spreads it to let everyone know and drive the price down instead of keeping it shut and give himself millions

The absolute state of biz fud. Get outta here with your weak shitty fud.

>> No.7993292

>>7993260

It's FUD. Binance and Kucoin fixed this a few weeks ago, just about when Binance froze all Nano transactions after the BitGrail situation.

>> No.7993293

>>7993260
Yes it is dead. Sell your 3 nanos pajeet.

>> No.7993296

Cheap fud.

Like OP said this was posted YESTERDAY. If double-spending worked, everyone would pump it for free money until it hit zero (probably within an hour).

>> No.7993387

do you have a source, that this has been fixed?

>> No.7993429

>>7993387
The source is that it gained yesterday instead of dropping to zero

>> No.7993737

>>7993387

Yes. There is overall a good post on /r/nanocurrency about this problem that explains why exchanges have problems, and that it's a known issue with how exchanges have handled transactions in the past. That has been fixed on kucoin and binance either never had the issue or fixed it already.

https://www.reddit.com/r/nanocurrency/comments/7wvfkx/a_perspective_from_the_creator_of_nanex_there_is/

If this actually worked, Nano would be fucked in terms of price. It hasn't been.

>> No.7993913

I shouldn't even be posting this, but I will anyway for the dummies in this thread.
Binance, and any big exchange, has algorithms running constantly that check for inconsistencies in the users balances, to detect things like double withdraws immediately. Thinks like people being credited double of what they bought of a coin, for example, has happened in the past with Binance. Anytime something like this happens, the trading/withdrawing gets closed almost immediately.
If you ever see someone saying how they are double withdrawing anything from Binance, it's bullshit. If they tested it and it worked, Binance's algorithm would have detected something was wrong at most a few minutes after the exploit happened for the first time and closed withdraws for the coin until it was fixed.

Also saged