Cryptocurrency trade Binance has launched an official assertion relating to the allegations of “market maker info disclosure” which have been a sizzling subject locally over the previous few days.
The corporate stated that after an investigation, the allegations in query have been made by an unbiased third-party dealer, who just isn’t an official market maker.
The dealer’s funding agency additionally acknowledged that the particular person was not licensed to talk on its behalf, in keeping with the assertion. The corporate terminated its relationship with the related exterior buying and selling staff as of October 13, 2025, and withdrew its declare for compensation towards Binance. The dealer was requested to delete his social media posts and chorus from talking on behalf of the corporate.
In a technical rationalization of the incident, Binance claimed that though the Scale back Solely orders didn’t set off the system’s safety mechanisms, these orders nonetheless handed place and worth validation.
The incident got here to the forefront in the course of the cryptocurrency market flash crash on October 11, when a dealer claimed that his reduce-only order on the Binance platform returned a “503 error code” for 106 minutes and was unable to shut his place. The submit was broadly mentioned on social media, however after reviewing the logs between Binance and the funding agency, the dealer admitted that there was no mistake and deleted the submit on October twenty second.
Binance stated in an announcement that the false and deceptive claims are damaging its repute and that it’s going to take authorized motion if essential. The corporate additionally urged customers to be cautious of market fluctuations and prioritize threat administration.
*This isn’t funding recommendation.
