Wow, is this news true or false?

Dear Pi enthusiasts,
Today, January 27, I observed a somewhat curious phenomenon and would like to ask for your opinions.

On a certain platform, the total depth of Pi's spot sell orders appears to be about 18 million Pi (there are a lot of sell orders), but some tracking tools or pages related to piscan show that the balance of a public wallet address on one platform (like GALAY...PX EQU) is only around 1.92 million Pi.

This confuses me a bit:
Is this 1.92 million part of a hot wallet from a certain entity? Or is it just a single address, not the total holding of the entire entity?

Why can the sell order depth be much greater than this number? Is it accumulated from many users placing scattered orders? Or does the system have some special display mechanism?

Do normal spot sell orders require the account to have enough Pi to place them? It's not possible to just rely on 'inputting numbers' to place unlimited sell orders, right?

Thinking further:
If many people together buy Pi from that platform, transfer it to other exchanges to sell, then transfer back to buy, and withdraw again... continuously moving bricks to deplete Pi, what would happen?

Would withdrawals be directly suspended?
Or would liquidity be supplemented from other sources (for example, buying back)?
Or would the price ultimately find a new balance by itself?
Are there any similar precedents to reference?

I know the responsibility of exchanges is mainly to 'make sure user balances can be withdrawn when requested', but if liquidity is really drained, how would it be handled in practice?

Purely curious discussion, no FUD intended~
Can someone knowledgeable in this area clarify? Thank you!
#pi
#pinetwork