Summary

On December 18, 2024, Binance unexpectedly released a list of tokens in its Telegram channel, which sparked a temporary surge in their prices before the information was recanted.

Details

• Incident: Binance shared the names of five tokens in a Telegram post but shortly deleted it, claiming the information was false.
• Effect on tokens: The tokens jumped in value following the post but quickly lost their gains once the news was retracted.
• Trader Impact: One unfortunate trader lost $102,000 after rapidly buying and then panic selling ELIZA, a token that spiked in price before crashing back down.

Reaction

Traders speculated whether the original message was a ploy to lure investors into a rug pull, with some believing it was orchestrated by an official Binance channel, specifically binance_web3_wallet_community.

For further details, you can read the article here.