📉 The squid game 7.0. hidden manipulation or draining you like sucking ticks. I see how some are being liquidated, while I watch my profits being slowly drained. I can have many conclusions and I can even think that the whales enjoy draining your tokens silence% Or everything is manipulated and arranged, they say that This is a massacre! Terrible ¿chaos or exploit?

I see how many in the crypto ecosystem have reacted with indignation, surprise, and distrust to what seems like a massive forced liquidation of tokens.

Then a massacre or “systemic failure” occurred, although I believe it is totally orchestrated, and what is clear is that something serious happened.

Here goes my analysis based on my research. STEP BY STEP THROUGH THE ASSUMPTIONS

🔍 What happened?

The Binance Alpha token (AB) dropped 99% within minutes on Binance, falling from about $0.0083 to $0.0000051, before slightly rebounding.

Part of the chaos relates to the depeg of wrapped tokens like USDe, BNSOL, and WBETH within Binance. These tokens were being used as collateral in loans, margin/futures, and Earn products.

During the event, Binance announced that it would compensate affected users with $283 million due to those drops and technical failures.

There were also reports that some altcoins appeared “at zero” on Binance briefly, although they retained value on other exchanges, suggesting it was an internal platform issue. Users reported that when trying to execute trades during those critical moments, errors like “Trading unavailable / System error” appeared, preventing many from acting in their defense. I was struck by the fact that a few days ago there was an error when trying to move tokens. But I didn't associate it with the draining.

Possible causes, aspirin or distractors.

1. Low liquidity / thin order book

Many tokens have low volume or depth within the Binance market. In such markets, large orders in a short time are enough for the price to collapse.

2. Concentration of ownership (“whales”)

If few individuals hold large amounts of a token, their movements can trigger chain reactions. In the case of AB, the 10 largest holders had 97% of the token.

3. Technical failures / mismatches in collateral valuation

At Binance, some tokens like USDe were internally valued based on their own order book, not on external oracles. This left a window for exploitation when their “internal” value dropped.

For example, an aggressive sell-off of USDe within Binance caused its “internal” price to collapse, devaluing its use as collateral, which led to massive liquidations.

4. Macro moment / external catalysts

Economic or political news (such as tariff threats or unexpected announcements) can increase the overall volatility of the market. In this case, some point to tariff announcements between the U.S. and China as the trigger for panic.

5. Delays / system failures during the panic

Binance acknowledged that some parts of the system experienced “glitches” under market pressure.

This includes delays in displayed prices, errors in cross margin liquidations, and orders not executing correctly or showing “at zero.” Now, what do you guys think to do?

I reserve the right to think whatever I want 😁