Deep Tide TechFlow news, around 22:30 on November 23, the WBTC/USDT trading pair on Binance experienced a flash crash, with the price briefly dropping to $5209 before quickly returning to normal levels. The trading volume in 15 minutes surged from less than 1 WBTC daily to 88.6 WBTC.
Analysts believe that due to the insufficient liquidity of this trading pair, a large market sell order may have caused the abnormal price fluctuations. The community speculates that there may be a possibility of hackers using low liquidity trading pairs for wash trading and money laundering. Binance has not yet released an official statement on this matter. Previously, similar flash crash incidents also occurred in Binance's niche trading pairs such as BNB/USDC, WBTC/BTC, and ARB/TUSD.
