Dear @MAS_sg, @varadubai. I am submitting this complaint regarding a suspected intentional market manipulation event on the Bybit cryptocurrency exchange involving the MMTUSDT perpetual contract on 4 November 2025. During this event, the contract price rose from approximately 0.40–0.60 USDT to a high near 10.70 USDT within hours, a move exceeding 25x, followed by a rapid collapse. Bybit later confirmed that the price action involved an abnormal deviation from the spot market. This price distortion caused forced liquidations of user positions at levels that would not have occurred under normal market conditions. The pattern of the move is consistent with a coordinated pump-and-dump scheme rather than organic trading activity. Bybit offered partial compensation but declined to disclose the calculation logic and delayed payment after acceptance. I request DFSA to review whether this incident reflects deficiencies in market integrity safeguards, risk management, and user protection standards for derivatives trading. Relevant documentation is available upon request. Respectfully, CEO of CryptoBRO.co [email protected] I sent the appropriate email to all local regulatory bodies that oversee the companies operating under the Bybit brand: Bybit Fintech Limited Bybit Trading Limited Bybit Fintech FZE Bybit Fintech Hong Kong Limited @Bybit_Official