TAC tokens endorsed by TON Ventures plunged 90% in a few minutes, exposing the risk of Binance being

The crypto market sounds alarm again: TON ecosystem project TAC exploded above 90% in 15 minutes

On Tuesday, the crypto market once again staged a warning case of the fragility of exchange tokens-the project TAC jointly supported by TON Ventures and Hack VC plunged more than 90% in just 15 minutes, and its price dropped to around US$0.0063. The flash crash wiped out almost all of the token\'s gains since its first year on Binance Alpha and Binance futures platforms.

TAC successively launched the Binance Alpha launch platform and Binance futures market in July 2025, gaining significant first-mover advantage in liquidity compared to many early projects. The project team is building an EVM (Ethereum Virtual Machine)-compatible Layer-2 network, aiming to introduce Ethereum-style smart contracts into the TON and Telegram ecosystems. This segment not only attracted investment institutions such as Animoca Ventures, Symbolic Capital, and Spartan Group, but also received financial support from leading investors TON Ventures and Hack VC.

This flash crash coincides with TON itself being in a positive market. On the list of recent weekly gains, TON native tokens topped the list with an increase of 83.63%. TON\'s strong performance contrasts sharply with the sharp drop in TAC, once again confirming that individual risks of the project may override the overall momentum of the ecology.

The liquidity vacuum behind the crash

The severity of the sell-off points to a serious liquidity mismatch. In theory, Binance futures listings should have a deep order book, but the price trend of TAC suggests that either a single huge liquidation triggered a chain reaction on a weak pending order book, or early investors sold heavy positions without buyer support. As of press time, neither the project party nor the exchange had issued an official statement.

Venture capital support does not guarantee technical attractiveness. According to recent data analysis on the activity of developers in leading public chains, even mature networks face competition for developer attention. Maintaining developer engagement is crucial for the unverified EVM chain in the TON ecosystem; a sudden price collapse could further shake the confidence of potential contributors.

It is unclear whether the flash crash reflects structural problems in the TAC token economy model-such as upcoming unlocking events or flaws in the market-making mechanism-or is simply a rare liquidity vacuum on a light trading day. Relatively low market capitalisation levels before the crash likely amplified price volatility. For retail traders who entered on the basis of Binance review signals, the incident raises a troubling question: how deep was the stress resistance test of newly launched tokens before opening up leveraged futures trading?

Enlightenment of flash crash on exchange review mechanisms

This is not the first \"star capital\" project to have suffered a devastating flash crash on mainstream exchanges. However, the appearance of TON Ventures and Hack VC on the project\'s shareholder list may have given some market participants a false sense of security. In the altcoin market, early risk investing does not protect tokens from liquidity-driven crashes-especially when centralized exchanges allow high leverage on illiquid assets.

The current altcoin space is taking on a completely different narrative: on the one hand, long-term predictions of the potential recovery of mature projects such as Filecoin, and on the other hand, the sudden demise of newly launched tokens. The future direction of TAC depends on whether the team can provide a credible explanation after the crash and prove that the underlying development roadmap is still progressing as planned.

Market observers will pay close attention to on-chain data to determine whether the sell-off came from a known investor\'s wallet or was a coordinated liquidation event. With Telegram\'s rapidly growing TON ecosystem based on its huge user base, if the root cause of the collapse comes from external factors, this incident may be treated as an isolated case and digested. However, if the collapse of TAC exposes deep flaws in the token issuance mechanism or market structure, it may temporarily cool the market enthusiasm of other new TON ecosystem projects seeking to launch.