BitMEX accuses Binance of plagiarism

Posted 04 September, 2019

On September 4, BitMex on Twitter accused the Binance cryptocurrency exchange, which copied description of some futures instruments from BitMEX and used it during the launch of bitcoin futures on its platform in the technical documentation.

"Congrats on the Testnet Futures launches @binance. Glad to see you enjoyed reading our documentation as much as we enjoyed writing it!" - declares BitMEX.

In particular, this concerns the descriptions of the auto-de-delivery option and the financing rate, which are 100 percent consistent. 

"Shame on us. Sorry about that. Missed this in the DD process before the acquisition (didn't read the BitMex docs ourselves). Will fix/remove ASAP," Changpen Zhao, CEO of Binance, commented

As follows from his words, BitMEX descriptions on Binance migrated along with the crypto-derivative platform JEX, the acquisition of which Binance announced the last weeks follows from his words, the BitMEX description on Binance came with the crypto-derivative platform JEX, which was acquired by Binance earlier.

Some of the participants in the discussion, meanwhile, note that BitMEX, while developing its platform, could also be inspired by the ideas of third-party companies. Binance opened a vote among its users for the platform, which will subsequently become the official division of Binance under the Binance Futures brand.

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