Based on the official response so far, the possibility of a hacker intrusion has been ruled out. The remaining explanation points to anomalies in the market maker trading procedures. The final investigation report needs to be released soon. Honestly, I am really curious about who is secretly pouring such a large amount of money into the market.

In terms of methods, I tend to believe this is not the routine of traditional manipulators. The reason is straightforward—historically, those who manipulate small coins have never done something like placing tens of millions of dollars on the order book of major spot exchanges simultaneously. The scale and approach are completely on a different level. It could be an automated program malfunction, or some more complex trading strategy has gone out of control. Anyway, we’ll just wait for the final investigation results.