🙏🙏 The Binance platform conducted an investigation to understand the reasons for the drop in the price of #ACT and other cryptocurrencies

🔥 It was discovered that four users sold more than one million dollars in tokens, which triggered a series of reactions, indicating that the initial investigation revealed a series of rapid sales involving tokens with small market capitalization. The incident involved three VIP users who cross-sold tokens worth nearly 514,000 dollars in the spot trading market over a short period of time, and one non-VIP user who transferred a large amount of ACT from another platform and sold tokens worth nearly 540,000 dollars in the spot trading market after a brief period.

🔴 With the price drop, some users' positions in futures were liquidated, which in turn led to price decreases in other tokens. So far, Binance has not identified any accounts that made significant profits from the incident. Since these tokens are already being fully traded in the secondary market, the platform cannot intervene in users' selling activities. Binance will continue to investigate the matter and share more updates as necessary.