Did Binance block trading for retail users during the Oct 10th crash? I couldn’t buy PENGU when it hit the bottom.

In the course of the major crypto crash on October 10th, 2025, I attempted to purchase PENGU on Binance when the worth dropped sharply — round $zero.007 to $0.zero10.

At that actual second, the system showed:

“Buying and selling unavailable / System error.”

My purchase orders didn’t undergo — buying and selling was utterly unavailable for several minutes. Once the worth recovered back to round $0.020, buying and selling began working normally once more.

This raises a critical query: If buying and selling was “paused to guard the system,” how did the market even drop that low in the first place? Have been liquidations still being executed while retail trading was frozen? And could whales or market makers have continued trading by way of APIs or related networks throughout that “freeze”?

That sort of trading vacuum might have triggered large liquidations and a capital transfer to whales who have been nonetheless capable of operate.

I’m curious — did anyone else expertise the same problem? Specifically, not with the ability to purchase or place orders on PENGU (or other tokens) through the dip, but then every part working high quality as soon as costs recovered?

Please share your screenshots, timestamps, or error messages for those who had comparable problems. Together, we'd work out whether this was only a “system overload” — or one thing a lot greater.

...

UPDATE

So, Binance has now released an official assertion concerning the October 10th crash — and it’s very telling.

They freely admit that:

The core API and matching engines remained operational,

While certain modules (together with the UI) experienced “momentary glitches,”

And compelled liquidations have been processed normally during that time.

In case you connect the dots, meaning: ✅ Institutional and API-based merchants might nonetheless commerce usually, ❌ Retail users (like me) couldn’t place buy orders as a consequence of “buying and selling unavailable” errors, ???? Yet liquidations have been nonetheless executed — which means the market wasn’t frozen, simply selectively restricted.

This matches what many of us skilled:

Retail was locked out at the bottom,

Costs dipped abnormally low as a consequence of lacking retail liquidity,

Then whales (using APIs) purchased the dip and prices immediately recovered.

Binance calls it “market volatility.” But in follow, it seems like a liquidity vacuum that transferred billions from retail to institutions.

They’re now even providing “compensation” for customers who had “delays in inner transfers or margin top-ups.” That’s principally an admission that customers have been technically blocked from reacting in the course of the event.

???? TL;DR

Binance’s own assertion confirms:

API trading worked; UI didn’t.

Retail couldn’t buy the dip.

Liquidations continued.

Compensation is being paid.

That’s textbook selective entry, and probably the most important coordinated retail wipeout in crypto history.

???? What do you assume?

Should users demand compensation for missed trades and compelled liquidations in the course of the “glitch”?

Is that this grounds for a class motion or regulatory grievance (EU/AMF/ESMA)?

Has anybody right here already filed a claim or contacted help/legal?

Let’s collect experiences, logs, screenshots — if we manage this properly, we'd truly maintain them accountable.