- A trader said they made about $1 million on Jan. 1 by exploiting unusual spot buying on Binance tied to the memecoin BROCCOLI714 on the BNB Chain.
- The trader, Vida, used automated alerts to trade spot and perpetual market gaps and posted execution logs showing rapid fills.
- Binance opened an internal review and said its controls appear to be working; there is no sign of a platform breach so far.
- Memecoin activity helped the BNB Chain grow daily active addresses from under 1 million on Jan. 1, 2025 to about 2.6 million by New Year’s Eve, per Nansen data.
A trader identified only as Vida said they earned roughly $1 million on New Year’s Day by trading around unusually large spot buy orders tied to the memecoin BROCCOLI714 on the BNB Chain. Vida posted about the trades on X and shared an execution log showing automated order attempts and fills.
Vida said the token’s price jumped abruptly then reversed early in the Asian session after big spot buys appeared on Binance’s order book, prompting the trader to buy spot and later short once futures liquidity normalized.
Vida wrote that the pattern looked abnormal: “I figured it had to be either a hacked account or a bug in the market-making program, because no whale would be dumb enough to do charity like that.”
Social media users speculated a hack, but Binance said it had opened an internal review and found no immediate security issues. The exchange noted that, “Based on initial system checks, Binance’s risk controls and security mechanisms are operating as intended,” and added, “At this stage, there is no indication of a platform security breach or Hacker activity, and we have not received reports of account compromise through our customer support or key client channels.”
Vida later reiterated uncertainty about the event while questioning the use of large sums, writing, “I don’t know what’s going on either; how could someone use tens of millions of [USDT] in spot to do charity pumping”
Memecoins tied to Binance co-founder Changpeng Zhao’s dog helped fuel renewed activity on the BNB Chain, which climbed to about 2.6 million daily active addresses by year-end, according to Nansen.
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