Market buy on thin Binance order book costs inexperienced trader $400,00090

An anonymous user reportedly lost $400,000 paying over 17,000 times the market price of a token by pressing “Market Buy” on Binance.

First revealed in a Reddit post on May 9th, the news left many speculating on whether or not the alleged loss actually happened, and if it did, how did an exchange as large as Binance allows for such a trade to go through in the first place.

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