Crypto Markets Tumble After Interpol Red Notice Rumor for Binance CEO

Summary:
• A tweet containing an encrypted message mentioning Interpol Red Notice for Binance’s CEO, CZ, caused a sharp decline in the prices of Binance’s BNB token and Bitcoin.
• The tweet was from @cobie, who is followed by many in the crypto community.
• Spokespeople for Binance and Interpol did not confirm the rumor.

Crypto Prices Tumble After Rumor

Binance’s BNB token and bitcoin (BTC) plunged Monday as a rumor spread that the crypto exchange’s CEO faced an international law enforcement request to detain him.

Origin of Rumor

The catalyst for all this was an encrypted message contained in a tweet that was apparently not meant for the public’s eyes – at least not yet – and that might’ve just been a wild guess. The tweet from @cobie read “Interpol Red Notice for CZ,” referring to Binance’s CEO Changpeng “CZ” Zhao had been encrypted using the SHA-256 hash function, the same cryptography that secures many cryptocurrencies, including bitcoin.

Reaction to Rumor

Upon cracking the post, markets were spooked even though it was only a rumor. With Binance and its CEO having previously been sued by U.S. regulators for “willful evasion” of U.S laws, it seemed believable to many and prices reacted accordingly as word spread quickly with both BNB token and Bitcoin dropping rapidly.

No Confirmation From Sources

Spokespeople for both Binance and Interpol did not respond to requests for comment regarding this rumor which led some to believe it may be false or unfounded after all.

Conclusion

Although no confirmation has been provided on the rumour ,the implications are still apparent as seen through the sudden decrease in price due to such speculation .