PANews reported on April 2nd that according to a Binance announcement, three VIP users and one non-VIP user collectively sold over 1.05 million USDT worth of ACT tokens in the spot market, causing a significant drop in ACT prices. This triggered liquidation of some users' futures positions and affected the prices of other low-market-cap tokens. Currently, no accounts have been found to have profited from this, and Binance is conducting further investigation. Since ACT is fully circulated, the platform cannot restrict trading activities. To mitigate risks, the leverage for ACTUSDT contracts has been lowered. Binance reminds users to manage risks properly. Previously, ACT plummeted by about 50% within half an hour.
