Several altcoins on Binance appeared to crash to $0 during Friday’s market turmoil, including IOTX, ATOM, and ENJ. However, Binance clarified that this was a display issue, not an actual drop in value, due to a change in decimal places for price movement. The exchange faced controversy following the worst 24-hour crypto liquidation in market history.

Traders suspect Binance may have been targeted in a coordinated attack, leading to Ethena’s USDe synthetic dollar dropping to $0.65 on the platform. The attackers exploited Binance’s “Unified Account” feature, using internal order book data. Binance plans to fix the issue by relying on external price feeds, but threat actors may have exploited the system.

The incident triggered up to $1 billion in liquidations on Binance, creating a market-wide contagion. Binance has offered $283 million in compensation to affected users. Despite this, Crypto.Com’s CEO called for regulatory investigations into centralized exchanges that suffered heavy losses during the market crash.

Read more at Cointelegraph: Binance Says Tokens Did Not Actually Lose 100% of Value in Market Crash