FLOW Token Plummets 53% on Binance Amid Security Breach Investigation
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Price Collapse: The FLOW token experienced a staggering 53% drop on Binance, plummeting from $0.17 to $0.079, reflecting intense market panic following the Flow Foundation's announcement of a potential security incident investigation, resulting in over $47 million in trading volume exiting within just two hours.
- Exchange Response: Major South Korean exchanges Upbit, Bithumb, and Coinone immediately suspended all deposit and withdrawal services for FLOW tokens after the price collapse, demonstrating heightened vigilance towards potential network security issues, which further exacerbated market anxiety by affecting all trading pairs involving FLOW.
- Market Impact: The incident triggered ripple effects across related sectors, with gaming tokens experiencing an average decline of 5-8%, while decentralized finance protocols built on Flow reported a surge in withdrawal requests, indicating heightened investor sensitivity to potential risks associated with blockchain security.
- Security Investigation: The Flow Foundation confirmed an ongoing investigation into network security, with preliminary analyses revealing unusual transaction activities, and established communication channels with major exchange security teams, promising updates every six hours to restore market confidence and ensure user asset safety.
About the author

Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.







