一个帖子引发的“币圈历史最大惨案”：币安宕机，“第三大稳定币”脱锚与惨烈的“铁索连舟”

Core Viewpoint - The article discusses the recent turmoil in the cryptocurrency market, highlighting the failures of centralized exchanges like Binance during a critical liquidity crisis, which led to significant market losses and raised questions about the reliability of centralized versus decentralized finance systems [1][4][16]. Group 1: Market Reaction and Impact - On a recent Friday, a tweet from former President Trump regarding tariff threats triggered a severe sell-off in the cryptocurrency market, causing Bitcoin to drop from over $126,000 to below $110,000, with a daily decline of 13.5% [3][7]. - The total market capitalization of cryptocurrencies evaporated by nearly $800 billion within hours, with over $20 billion in leveraged positions liquidated, marking one of the largest liquidation events in cryptocurrency history [3][12]. Group 2: Centralized Exchange Failures - During the market crash, several centralized exchanges, including Binance, experienced significant system delays and outages, preventing users from executing trades or managing positions, which exacerbated their losses [1][13][22]. - Users expressed outrage on social media, accusing Binance of failing to provide necessary liquidity and stability during a critical time, leading to a trust crisis for centralized exchanges [4][21]. Group 3: The Nature of the Crash - The article suggests that the crash was not merely a market reaction but potentially a targeted attack exploiting vulnerabilities in Binance's unified margin system, which allowed for the mixing of various assets as collateral [5][17]. - The cascading effect of forced liquidations was described as a "waterfall effect," where the decline in asset prices triggered further liquidations, leading to a rapid downward spiral in the market [11][9]. Group 4: Comparison with Decentralized Finance - In contrast to the failures of centralized exchanges, decentralized finance (DeFi) platforms like Uniswap and Aave managed to operate smoothly during the market turmoil, processing significant volumes without technical issues [16]. - This performance disparity has reignited discussions about the risk management capabilities of centralized versus decentralized financial systems [27]. Group 5: Regulatory and Community Response - Following the incident, there were calls for regulatory investigations into Binance's operations, as this was not the first time the exchange faced criticism for similar issues [24][26]. - Despite Binance's assurances that user funds were safe and that their systems had been restored, community dissatisfaction remains high, with many users demanding accountability [23][24].