Foresight News reports that Binance customer support has issued a statement regarding "severe drops in multiple Altcoins on Binance". After preliminary investigation, they discovered a series of price drops in small market cap tokens, including three VIP users cross-selling tokens worth approximately 514,000 USDT in the spot market within a short time, and a non-VIP user transferring a large amount of ACT from other platforms and selling tokens worth 540,000 USDT in the spot market within a short time. During the price drop, some users' futures contracts were liquidated, which led to further drops in other tokens. Currently, no single account with significant profits has been identified. Since the tokens are fully circulating in the secondary market, the platform cannot intervene in users' selling behaviors. Binance will continue to investigate the incident and will synchronize further details if there are updates.

Binance Futures has recently consecutively published adjustment announcements for the ACTUSDT perpetual contract, during which the market showed no abnormal movements and did not actively reduce any user's positions.