Binance releases preliminary report on ACT plunge incident, four users sell $1.05 million spot ACT tokens, causing a decline

PANews reported on April 2 that according to Binance announcement, three VIP users and one non-VIP user sold more than USDT of ACT tokens in the spot market, resulting in a sharp drop in the ACT price, causing some users' futures positions to be liquidated and affect the prices of other low-market tokens. No accounts have been found to profit from it, and Binance is investigating further. Because ACT has been fully circulated, the platform cannot restrict transaction behavior. To prevent risks, the leverage of ACTUSDT contract has been lowered. Binance reminds users to manage risks well. Previous news, ACT plummeted by about 50% in half an hour.