FUNToken slides after Binance hack-linked sales hit thin Uniswap liquidity

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FUNToken hit by Binance hack-linked selloff

Highlights

FUNToken plunges over 90% on Uniswap and drops 68% across all markets after a Binance hack-linked wallet sells 134.1 million FUN for 111.5 ETH (~$250,000).
Sales into the thinly liquid FUN/WETH Uniswap v2 pool trigger sharp price movements, highlighting risk for small tokens with concentrated holdings.
The hack-linked wallet still controls 580.8 million FUN (5.4% of max supply), sustaining downside risk despite a 75% price rebound after selling paused.

Hack-linked sales pressure FUN trading

As reported by Coindesk, citing Etherscan data, a wallet labeled "Binance Hot Wallet Exploiter 2" sends 714.9 million FUN to a fresh address at 23:28 UTC on Thursday, and that address begins selling into the FUN/WETH liquidity pool on Uniswap three minutes later.

FUNToken, formerly known as FunFair, drops more than 90% on the Uniswap pool where the sales take place, falling from about 0.0000037 wrapped ether, or WETH, to 0.00000017 WETH, according to GeckoTerminal data. Across all markets, the token is down 68% over 24 hours, CoinGecko data show.

The selling address makes more than 150 transactions over subsequent hours, with all but one targeting the FUN/WETH pool on Uniswap v2. The last sale lands at 04:17 UTC on Friday, and in total the wallet sells 134.1 million FUN for 111.5 ETH, worth about $250,000.

Thin liquidity heightens market risk

The broader market impact reflects the limited depth of smaller token pools, where relatively modest sales can move prices sharply because trades directly shift the balance of assets in pooled liquidity. Uniswap operates as a decentralized exchange where users trade against these pools rather than through a company's order book.

The Binance attacker takes more than $6 billion from the exchange's hot wallets, the internet-connected wallets used to process withdrawals, making it the largest crypto hack on record. Analysts have previously flagged that smaller tokens face a heightened risk of abrupt price breaks when concentrated holdings are sold into thin markets.

After the selling stops, buyers step back in and the pool price jumps 75% in the past hour. The selling wallet still holds 580.8 million FUN, equal to about 5.4% of the token's maximum supply, according to Etherscan, leaving the market exposed to renewed pressure if those tokens return for sale.

Activist investors stepping up pressure on Big Yellow was the focus of our earlier article, after Irenic Capital Management and Ancora Holdings each disclosed roughly 4% stakes and urged the self-storage group to consider strategic options, including a sale. We noted that the push intensified as the FTSE 250 company traded near multi-year lows despite solid results, against a backdrop of wider consolidation across UK listed real estate.

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