No FUD post no worries just something really interesting is going on right now.

It all started yesterday with some micro market caps going crazy. It looks like users have been pump & dumping heavily micro cap crypto on binance. As a degen trader my alerts went off but I immediately assumed it's just a pump & dump groups.

OSMO/USDT +1195% in only half an hour

https://preview.redd.it/nfd6d4kzn85a1.png?1920&format=png&auto=webp&s=319f9a0a5c8528d4cd9048cb27f94b7df5674f50

other smaller cases:

ARDR/USDT +103% within 30min

https://preview.redd.it/2jwi22ako85a1.png?1920&format=png&auto=webp&s=93c75dda3a36a9dd2cc8aab7c360c7288699b1ca

FUN/USDT +42% in only a few minutes

https://preview.redd.it/bc1pkv36o85a1.png?1920&format=png&auto=webp&s=e8c2b4f826284650a8b8cffc79d53a3fdb73e5f7

SUN/USDT +27%

https://preview.redd.it/e2anambtn85a1.png?1920&format=png&auto=webp&s=2ba0445a5b2e4ef1c9ed34b0816ea88bee9ee535

Today it looks like Binance actually caught up on it and started investigating to prevent future manipulation:

https://preview.redd.it/ipnss4kbn85a1.png?893&format=png&auto=webp&s=f89bd2759bb04602f92b06dea11ef1123e9f1746

CZ response:

https://preview.redd.it/ezx0azluo85a1.png?451&format=png&auto=webp&s=f67083c6b09ae10bc60e5d098028cb38d870889e

So to summarize it's a pretty interesting topic. Unregulated markets with so many possible assets being traded & available are an easy target for manipulation which is pretty much obvious that this is the case here. As a centralized exchange the damage control performed by CZ / Binance seems to be locking withdrawals from profiting accounts just in case it had malicious background or connection to a hack.

This is somewhat acceptable in my opinion consider at the end of the day it is a centralized exchange and they can pause & delay users funds at any given time. Yet it should be a reminder that this can happen to anyone at any given time and should be paid attention to what happens after to the users. I expect CZ / Binance to solve the problem quickly and let the users withdraw again.

Gave the post a serious tag because I would like to see your thoughts & opinion on the entire topic.