A trader claimed to have made $1 million by timing a long-short trade after spotting abnormal activity by a market maker account on Binance, while the exchange denied any security breach.
A trader claimed to have profited about $1 million on New Year’s Day by capitalizing on “abnormal” trading behavior of a suspected market maker account on Binance.
Investor Vida said on X that the abnormal trading activity was tied to BROCCOLI714, a low-liquidity token on the BNB Chain.
The memecoin had an abrupt price surge followed by a sharp reversal early Thursday morning in Asia, which Vida said was driven by unusually large spot buy orders on Binance’s order book.
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