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[Urgent] Investigation report on the suspected market manipulation and major risk control risks of the BNX (BinaryX) project
To the head of Binance Compliance and Supervision Department:
On behalf of the platform investor group, I would like to make a formal report on the serious market manipulation and systemic risks of the BNX (contract code: BNX) project. According to the on-chain data analysis, the project has posed a major threat to the platform ecology and user asset security. The specific evidence of violations is as follows:
1. Extreme abnormal concentration of coin holdings (violation of Article 3.2 of the Binance Listing Agreement) • The top 10 addresses hold 97.45% of the circulating tokens, and the top 4 addresses control more than 80% of the supply • The concentration exceeds the Binance standard value of 62% by 56.45 percentage points (the standard requires Top 10 ≤ 60%) • On-chain transfer records show that 97% of tokens are traded in cycles between 3 associated cold wallets
2. The liquidity crisis has reached a red alert (violation of Article 5.1 of the Liquidity Management Guidelines) • The actual liquidity is only $517,200, but the circulating market value is $498M • The liquidity/market value ratio is 0.104% (Binance Health Value should be > 3%) • The market maker account has no valid pending orders in the past 30 days, and the buy-sell slippage exceeds 15%
3. Ironclad evidence of price manipulation • The price fluctuations in the past 4 days have a correlation of only 0.07 with BTC (normal projects should be > 0.6) • Regular million-dollar cross-trading occurs every day from 23:00 to 01:00 (UTC+8) • CoinMarketCap data shows that 98% of trading volume is concentrated on Binance alone
Given that the token has all the high-risk features in the "Binance Delisting Standards": 1. Meet the "extreme concentration of coins" (standard: Top10>75%) 2. Trigger the "liquidity crisis" clause (standard: liquidity/market value <span There is a clear chain of evidence of market manipulation
We solemnly request: ① Immediately suspend BNX trading pairs and initiate an in-depth investigation ② Convene an emergency risk control hearing in accordance with the "Abnormal Project Handling Procedures" ③ Publish the preliminary investigation conclusion within 72 hours
This material has been copied to the Binance Security Audit Committee and the User Protection Office at the same time, and a complete chain data analysis report (including 3,287 suspicious transaction hashes) is attached. I hope your company will abide by the principle of "customer first" and cut off the risk chain in time.
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