Binance Alpha "ZKJ, KOGE big dump of 81%", users遭 liquidity sniping: assets剩 20%

After Binance Alpha changed the points calculation system, the brush volume characteristics were sniped by liquidity, causing a flash crash of the ZKJ and KOGE platforms, evaporating more than $600 million in two hours, and users said that only 200 of 1000 magnesium remained. (Synopsis: Binance: Recent Alpha cheating using the "brush scoring tool" will be dealt with as a violation) (Background supplement: Binance Alpha Research: Where is the limit of the integration effect? Furry Studio rolls everything away? After eight o'clock yesterday evening, ZKJ, the top of the Binance Alpha trading list, stalled synchronously with KOGE, and ZKJ sank from $1.946 to $0.3767 in two hours, a drop of 80.6%; KOGE fell from $61 to $8.46, both refreshing listing lows. Coinglass statistics show that the whole network blew up $210 million that night, of which ZKJ contracts accounted for seventy percent. Binance Alpha Mechanism Amplifies Losses Why did it cause a big fall? Alpha with "trading volume × liquidity" into the points, from June official revision, LP can also receive additional points, short-term funds rush into the pool, in order to earn the maximum capital effect, brush more ZKJ–KOGE liquidity pool to save fees, and the volume is inflated to cover the real buying, once the big account withdraws the pool will become a domino effect, many users in the community self-exposed: invest $1,000 only $200. Liquidity instantaneous: the first avalanche nail of a cliff On-chain data shows that a wallet starting with 0x364 sold 4.2 million ZKJ and 18,000 KOGE in OKX in a row, triggering selling pressure. The full-time observer pointed out: "Volatility→ brush volume reduced → APY fell → LP withdrew pool→ spot smashed the market, and finally only air remained." High FDV tokens rely on market making, and once liquidity is drawn, the price is difficult to undertake. ZKJ plans to unlock S$15.53 million, worth about US$30.3 million, on June 19, exacerbating the decline as the market absorbs selling pressure early. Harvesting path: first break the KOGE and then kill the ZKJ chain cross-comparison, the three addresses simultaneously withdraw Pancake more than $30 million of bilateral liquidity, first smash the KOGE with thin liquidity, wait for the price to pierce the LP range, and then turn back to sell ZKJ and open short hedging. The price chain pins make alpha users unable to move bricks in time between positive and negative price differences, and the liquidation data soars. Next: Both the platform and investors have to make up the class After the incident, Binance internal discussions raised the alpha point weight threshold and required the project to lock in minimum liquidity, but there is still no clear timetable for detailed implementation. Market participants remind that short-term returns driven by airdrops and points are no match for a liquidity flight. Only by studying the rhythm of token unlocking and the source of liquidity can investors avoid repeating the tragedy of "earning 20% interest and losing 80% of principal". Binance also announced that in order to maintain market fairness and stability and reduce the systemic risk of concentration, Binance decided to optimize the Alpha Points calculation rules, starting from 00:00 UTC on June 17, 2025, the trading volume between Alpha tokens will no longer be counted in the Alpha Points statistics. Related Stories 4 Steps to Teach You to Find Alpha + Smart Money Twitter Account in X Efficient Binance Alpha Points Fever, Inventory of 10 BNB Chain Projects Recently Active Binance's four major money-making mechanisms: TGE, Launchpool, HODLer and Megadrop revenue analysis, should you hold BNB or rush Alpha points? "Binance Alpha "ZKJ, KOGE plunged 81%", users were sniped by liquidity: assets were wiped out and 20% left" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".