According to @bobbyong, a pattern consistent with market manipulation may have occurred on Binance as many altcoins crashed to almost zero in a recent episode he highlighted on Oct 12, 2025 (source: @bobbyong, X, Oct 12, 2025). He indicates that concentrated sell-offs in alt pairs suggest severe liquidity dislocations and thin order books that can produce extreme wicks on centralized exchanges, a scenario traders should factor into execution and risk controls (source: @bobbyong).