FLOW price slides as Binance removes key trading pair
The world’s largest cryptocurrency exchange Binance has announced the termination of trading for nine spot trading pairs, including FLOW/BTC. In addition, Binance has placed FLOW under monitoring due to high volatility.
Earlier, the founders of Flow reported a $3.9 million hack and outlined a recovery plan that excluded rolling back the blockchain.
“What was originally planned as a sequential multi-day process was executed in parallel, restoring Cadence and EVM functionality while maintaining surgical precision in removing fraudulent assets and preserving the history of legitimate transactions,” Flow stated.
In a preliminary post-mortem report, Flow also said it was “concerned by how one exchange responded to the incident,” referring to an “AML/KYC failure” that allegedly allowed hackers to deposit stolen FLOW tokens, convert part of them into bitcoin, and withdraw the funds. Some users speculated that the unnamed exchange mentioned by Flow could have been Binance.
Another delisting candidate?
In response, Binance removed the FLOW/BTC trading pair and placed Flow, along with three other tokens, under monitoring, citing “significantly higher volatility and risks compared to other listed tokens.” The exchange noted that tokens with a monitoring tag face a higher risk of no longer meeting listing standards.
In addition to FLOW/BTC, the following pairs were delisted: AI/BNB, ETC/BNB, LPT/BNB, SFP/BTC, VET/BNB, WCT/FDUSD, WIF/BRL, and WLFI/BRL.
Trading for these pairs will cease on January 3 at 08:00 UTC. Binance emphasized that the affected tokens remain available on the platform and clarified that BRL refers to the Brazilian real, a fiat currency.
24-hour FLOW price dynamics. Source: CoinMarketCap
At the time of writing, FLOW was trading around $0.09, down approximately 7% over the past 24 hours. During the day, the token repeatedly dropped to the $0.073–$0.075 range, experiencing declines of 20–25% within minutes.
As we wrote, Flow is falling today: what traders are watching (January 2)
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