Few days ago, it was announced that VISA and MasterCard are pegging back on their partnership with Binance card. Many Twitter threadors blew this out of proportion just to farm engagement.
Some went as far as suggesting Binance was bankrupt, spreading more #Binance FUD around.
As expected, naive ones believed the lies.
One of such person is Andrew. When Andrew saw a thread about Binance being insolvent, he quickly tried to withdraw all his $5,300 from the exchange to another exchange.
Unfortunately for him, he selected the wrong network and his money is now lost. The news was false, he didn't even try to find out what the real truth is. And now, he's rekt.
It's been over a week, and Binance is just fine. User funds are safe, not higher than normal withdrawals, and Binance still has over $1 billion in #SAFU funds.
This should serve as a lesson for those who just believe any Binance FUD without focusing on the facts.
Its fine to be cautious, but the naive person believes all things without focusing on the facts.
And by the way, always double check that you selected the right network when transferring crypto.
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