A recent crypto market crash has sparked investigation into unusual pre-crash activity. Cointelegraph, drawing on data from on-chain AI firm Rena Labs, reported a surge in anomalies leading up to the large-scale liquidation event last weekend. According to the report, 28 anomalies were detected, four times the typical amount. These included spikes in trading volume and unusual trading patterns, suggesting possible market manipulation. Large orders placed and then withdrawn pointed to potential spoofing. The analysis highlights USDe stablecoin's reliance on Binance's order book data for collateral valuation. This method, unlike traditional oracle-based stablecoins, might increase the risk of market distortion. Furthermore, liquidity in USDe pairs vanished before the crash, leaving traders unable to execute orders, severely impacting market functionality. The incident underscores the need for robust oversight and risk management in the decentralized finance (DeFi) space. ```