A recent scandal at cryptocurrency exchange Binance has sent shockwaves through the market, leading to significant losses for various altcoins. On April 1st, a series of events triggered substantial declines in prices across numerous low-market-cap tokens listed on Binance. This included the popular AI token ACT, which plummeted over 63% within a day. As a result of these sharp drops and triggered liquidations, the market witnessed panic among traders. Binance quickly responded to the crisis with an initial statement acknowledging that user transactions played a major role in triggering these losses. The exchange has emphasized its commitment to a thorough investigation and stated that they cannot intervene in user behavior. Binance has also highlighted the crucial roles of market makers and plans to encourage their participation in the future.