A trader reported earning around $1 million after exploiting what was described as abnormal trading activity linked to the low-liquidity BROCCOLI714 memecoin on Binance.
The trade took place on New Year’s Day, when the token experienced a sudden price spike followed by a rapid reversal during early Asian trading hours.
The trader, known online as Vida, said the unusual activity appeared to involve a suspected market maker account placing outsized spot buy orders.
According to Vida, these aggressive purchases briefly pushed prices higher before liquidity conditions normalised and the rally faded.
Vida said the scale and timing of the orders suggested either a system error or compromised trading behaviour rather than organic market demand.
I figured it had to be either a hacked account or a bug in the market-making programme, because no whale would be dumb enough to do charity like that.
Vida said.
The trader explained that automated alerts were used to detect rapid price movements and divergences between spot and perpetual futures markets.
Vida entered a long position as spot demand surged, then quickly flipped to a short position once buying pressure weakened.
The strategy relied on the assumption that futures prices would revert as liquidity returned and abnormal conditions eased.
Social media speculation quickly spread, with some users suggesting the activity was linked to a potential exchange security breach.
Binance publicly rejected claims of a hack following the surge in online discussion.
A Binance spokesperson confirmed that the exchange had conducted internal system checks after monitoring the unusual price movement.
Based on initial system checks, Binance’s risk controls and security mechanisms are operating as intended.
The Binance spokesperson said.
At this stage, there is no indication of a platform security breach or hacker activity, and we have not received reports of account compromise through our customer support or key client channels.
The spokesperson Highlighted.
Despite the denial, Vida maintained that the trading pattern did not resemble normal market behaviour.
I don't know what's going on either; how could someone use tens of millions of USDT in spot to do charity pumping.
Vida stated.
BROCCOLI714 is one of several memecoins linked to the growing trend of dog-themed tokens on the BNB Chain (CRYPTO:BNB).
The network has seen a revival in activity, driven in part by speculative interest in memecoins during 2025.
Tokens inspired by Binance co-founder Changpeng Zhao’s pet dog Broccoli have circulated widely across the ecosystem.
At the start of 2025, BNB Chain recorded fewer than one million daily active addresses.
Network usage accelerated as memecoin trading intensified and enthusiasm for similar tokens on Solana (CRYPTO:SOL) began to cool.
By mid-September, BNB Chain activity levels had risen to match those of Solana, according to blockchain analytics.
Data from Nansen showed daily active addresses continuing to climb into the final quarter of the year.
By New Year’s Eve, BNB Chain surpassed 2.6 million daily active users.
The network ranked second overall for both active addresses and transaction volume across the year.
The BROCCOLI714 incident has added fresh attention to liquidity risks and sudden price swings within emerging memecoin markets.
At the time of reporting, BNB price was $859.78.