Binance Responds to ACT Price Drop Incident: Four Users Sold Over $1 Million in Tokens, Triggering a Chain Reaction

Binance Customer Support responded on X to the recent sharp declines in several altcoins on its platform, stating that a preliminary investigation revealed a series of rapid sell-offs involving small market cap tokens. The incident involved three VIP users who cross-sold approximately $514,000 worth of tokens on the spot market within a short time frame, and one non-VIP user who transferred a large amount of ACT from another platform and sold approximately $540,000 worth of tokens on the spot market shortly after.As prices fell, some users' futures positions were liquidated, which in turn led to price drops in other tokens. So far, Binance has not identified any single account that profited significantly from the incident. Since these tokens are already fully circulating on the secondary market, the platform cannot intervene in users’ selling activities. Binance will continue to investigate the matter and will share further updates as needed.In addition, Binance regularly adjusts leverage limits based on each trading pair’s liquidity, market sentiment, and volume. The Binance Futures platform recently issued multiple notices regarding adjustments to ACTUSDT perpetual contracts. During this period, the market showed no abnormal behavior, and Binance did not forcefully reduce any user positions.