Can Binance still be trusted?

BTC BTCUSDC contract unfairly liquidates users

The screenshot is the btcusdc pin record at 2:44 on June 18, 2024

The price dropped from 66934 to 63553 and was instantly recovered. Because of this pin, my floating profit of 7000u triggered the market stop loss and turned into a loss of 7000u

1. I consulted the customer service, and he said it was normal. I was surprised. If such things do not require investigation/protection of users, how can users trust Binance

2. There is no pin at the btcusdc mark price. If I use the mark price to set the stop loss, it may not be liquidated

3. The btcusdc spot liquidity can be broken through by a few coins, and it can be manipulated even if the mark price is used. The btcusdc contract has 800 liquidity at 63500, which has better liquidity, but someone can manipulate the pin. After the liquidation, the position is closed for profit. As long as you set a stop loss/liquidation, you are giving money to the manipulator

4. I suspect that it is the market maker who does this, otherwise the manipulator is giving money to the market maker. I suspect that the market maker gets the backstage customer stop loss/liquidation data, and the market is smashed to trade 1.7k coins. If there is no accurate data, he may lose money.

5. I heard about the contract explosion before, but I didn’t expect to see it in 2024. The BTCUSDC chicken market, I guess the BTCUSDT contract can also do this. The BTCUSDT contract smashed 3500 points and only 7k liquidity. If BTCUSDC can, BTCUSDT may also have the same thing.

6. I guess it’s not just my position that was liquidated. If you are unfortunate, publish it together. We hope to have an investigation result. We want to know whether the trader who smashed the market during the pin is a market maker? The detailed transaction details of the pin trader, how did he smash the market and make a profit, and whether there is a problem with market liquidity?

Let’s see if this is fair, how Binance protects traders from this kind of price manipulation, 1.7k BTC positions were traded here, and the market manipulation worth $100 million