Binance responds to the market cap data errors of USUAL and ACX: has contacted the project parties to update CMC data and will improve the information verification process

2024-12-09 09:26:18

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ChainCatcher message, Binance stated: "We have noticed the recent community discussions regarding the supply data of USUAL and ACX tokens and conducted an internal investigation immediately. The specific cause of the incident is as follows: the display of token circulation information for the projects on the 'trading page' and 'price page' of Binance directly uses data from CoinMarketCap (CMC). Therefore, according to past processes, when the project's data is not updated, the data on CMC and Binance pages will also be affected.

Regarding ACX: On December 6, the Binance team discovered that the circulation data for ACX was incorrect and promptly contacted the project team to correct the data on CMC; regarding USUAL: the change in token supply information was mainly due to different standards between CMC and the project team regarding the definition of liquidity and how to reference data. After discussions, the project team has also completed the corrections on CMC. As mentioned above, we have clarified the root of the problem and conducted a post-analysis. In the future, we will strive to improve the collaboration and processes between the project team, CMC, and Binance regarding the display of token circulation and other related information, so that we can quickly verify key information about tokens before they go live and ensure the accuracy of the information to avoid similar issues from occurring."

Previously, users on platform X stated: "The reason for the USUAL pump is that the total amount of the token originally displayed was 4 billion, and now it has been directly changed to 338 million, which is equivalent to full circulation; the reason for the ACX dump is that when the token was launched, the circulation was displayed as 138 million, and then it was directly changed to 332 million, causing the circulating market value to increase by 2.5 times."

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