Unlisted PUMP Deposit on Binance Costs Trader $6 Million as PUMP Token Price Crashes 60%
Main Idea
A private sale investor lost $6 million due to depositing PUMP tokens into Binance, which did not list the token for spot trading, leading to delayed withdrawal and a significant price drop.
Key Points
1. An investor deposited 2 billion PUMP tokens ($12.79M at the time) into Binance, but the exchange did not list PUMP for spot trading, preventing immediate withdrawal.
2. The investor received the tokens back eight days later but lost $6 million due to PUMP's price decline during that period.
3. PUMP's price dropped nearly 60% in a week after a temporary rally, trading at $0.003005 at the time of reporting.
4. The altcoin market cap lost approximately $1 trillion in 24 hours, with major altcoins like ETH, XRP, ADA, and SOL also experiencing declines.
Description
PUMP investor’s deposit error costs him $6 million in eight days. Market volatility could make or mar an investor’s situation. The altcoin market cap lost about $1 trillion in 24 hours. A simple deposit error has highlighted the immense risks associated with cryptocurrency investments, as one investor lost approximately $6 million in just eight days due to a single oversight. Costly Mistake: A Private Sale Investor Misses $6M Exit After Binance Deposit Blunder Private sale investor "PUMP Top Fun...
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