The TAC token crashed by 90% in 15 minutes: what happened?

The market once again demonstrates its unpredictable nature: the TAC token, associated with an infrastructure project for the TON ecosystem, lost over 90% of its value in less than 15 minutes. This crash occurred amid trading on Binance Alpha and Binance Futures, triggering a wave of panic among asset holders.
TAC is the native token of the TON Applications Chain (TAC) network, which is an EVM-compatible blockchain designed to scale decentralized applications within the TON ecosystem. The project was announced in 2023, and its listing on Binance took place in July 2025. Key investors in TAC include prominent names such as TON Ventures, Hack VC, Animoca Ventures, Symbolic Capital, and Spartan Group.
Such a sharp decline raises questions about liquidity and mechanisms for protecting against manipulation on the platforms where the asset is traded. Although the exact causes of the crash have not yet been determined, similar events are often linked to the liquidation of large positions or a sudden dump of tokens by major holders. It is important to note that TAC is a project with solid backing, making the situation even more intriguing for analysis.
My comment as an analyst: Such crashes are a harsh reality for tokens with low market depth. Even with institutional investors, high volatility remains a key risk. Investors should pay special attention to liquidity and trading volumes, especially in the early stages of listing.