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As a commentary to all those who say "I'd never be part of that, I'm thinking that all it takes is "the right situation."
Your spouse is in hospital and will die unless they get a transplant within two weeks, and the only way you can raise $50K (or whatever) is liquidating your HP, most people would be all over signing their souls over to Binance.
"Sorry dear, but you'll have to die because I won't abandon my principles" doesn't actually play very often in the real world.
As a thought experiment, though, this is a potential threat vector, to be sure.
RE: Thought Experiment: Centralized Exchange Offers Instant HP Powerdown