The ALPACA Dog Fund Crazy Harvests Tens of Millions of U Using Binance's Delisting Policy Loophole

1. Binance's voting to delist certain tokens effectively gives the Dog Fund advance time to collect chips. These tokens have a market value of millions of U, making it easy to gather most of the circulating supply before the delisting notice.

2. After the delisting notice is released, a vast amount of retail funds typically enter to short ALPACA, while the Dog Fund goes long due to having control over the chips. The spot price can be pushed up indefinitely, skyrocketing 50 times within a few days, causing the tens of millions of U that entered to short to be liquidated.

3. Most importantly, Binance's contract delisting rule automatically settles based on the average price in the half-hour before the market closes, meaning the Dog Fund does not have to consider the issue of offloading. They pushed ALPACA from a market value of millions of U to 150 million U, harvesting tens of millions of U of short funds in the market, and the exchange will automatically close positions for profit.

4. After making tens of millions of U in contract profits, the spot market still has two days before delisting, providing ample time to sell off this worthless spot and make another profit.