Diogenes was a native of Sinope, son of Hicesius, a banker. Diocles relates that he went into exile because his father was entrusted with the money of the state and adulterated the coinage. But Eubulides in his book on Diogenes says that Diogenes himself did this and was forced to leave home along with his father. Moreover Diogenes himself actually confesses in his Pordalus that he adulterated the coinage. Some say that having been appointed to superintend the workmen he was persuaded by them, and that he went to Delphi or to the Delian oracle in his own city and inquired of Apollo whether he should do what he was urged to do. When the god gave him permission to alter the political currency, not understanding what this meant, he adulterated the state coinage, and when he was detected, according to some he was banished, while according to others he voluntarily quitted the city for fear of consequences.