99% gone in 60 seconds: How a Polkadot trader may have crashed DOT futures
On March 5, Polkadot‘s DOT experienced a flash crash at Binance perpetual futures that resulted in the contract trading as low at $0.20. While this could have been an honest fat-finger trading mistake, a number of indicators point to a planned attack.
While no hard evidence will likely ever emerge, the open interest increase just 24 hours ahead of the event indicates that an attacker could have generated an $8.3-million profit by manipulating Binance’s matching engine.
Credit: Source link