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Crypto trader loses $3.7M after Binance’s sudden rule update
A cryptocurrency trader suffered a $3.79 million loss after Binance unexpectedly updated leverage and margin tiers for select tokens. One of the affected tokens was Act I (ACT), where the trader’s $3.79 million position was liquidated at $0.1877, according to the latest on-chain data retrieved by Finbold from Lookonchain on April 1. After the liquidation, one of the largest for the day, ACT experienced a massive price drop. As of press time, the token was trading at $0.1018, down 46% in the last 24 hours and nearly 50% on the weekly timeframe. This price collapse has compounded losses for those still holding ... (full story)
