Binance Market Maker Hack Triggers $1M Trading Windfall Amid BROCCOLI Manipulation

A covert Binance market maker hack at the start of 2026 has captured the crypto community’s attention, highlighting ongoing concerns around exchange security and low-liquidity token manipulation. The incident involved the BROCCOLI (714) token, where a malicious actor allegedly compromised a Binance market maker account and attempted to manipulate prices, only for a savvy trader to turn the failed exploit into a $1 million profit.

According to on-chain analyst Lookonchain, the attacker gained unauthorized access to a market maker account and began aggressively buying BROCCOLI on the spot market. At the same time, the hacker reportedly opened leveraged perpetual futures positions across other accounts, aiming to artificially pump the spot price and profit from derivatives. This tactic is commonly associated with pump-and-dump schemes, especially in thinly traded crypto assets.

However, the plan did not unfold as expected. Trader Vida, who was already monitoring BROCCOLI, noticed unusual market behavior, including a sudden 30% price increase within just 30 minutes. More notably, Binance’s spot order book showed tens of millions of USDT stacked on the bid side, while the futures market displayed minimal bid depth. This imbalance raised red flags, suggesting either a compromised account or a malfunctioning market-making algorithm rather than organic whale activity.

Recognizing the abnormal conditions, Vida strategically went long to ride the artificial pump while closely watching Binance’s risk controls. When the large bid orders abruptly disappeared—likely due to exchange intervention—he exited his long position, flipped short, and opened a perpetual futures trade. As the BROCCOLI price rapidly declined, Vida capitalized on the reversal, ultimately securing an estimated $1 million profit from the hacker’s failed maneuver.

The choice of BROCCOLI was no coincidence. As a low-liquidity token with a thin order book, it is particularly vulnerable to price manipulation. The incident also follows earlier controversies, including a reported pump-and-dump involving BROCCOLI and recent high-profile security breaches such as the Trust Wallet hack, which resulted in losses exceeding $7 million.

Overall, the Binance market maker hack underscores persistent risks in crypto markets, especially around account security, insider trading allegations, and manipulation of low-liquidity assets, reinforcing the need for stronger safeguards and trader vigilance.