📛♨️Binance Security Incident Triggers $1.1B+ Long Liquidations
On 29–30 Oct,
Binance detected a security issue linked to a third-party provider.
The exchange temporarily froze ~$3B in assets and is working with investigators.
📛♨️Market reaction was sharp:
🔴BTC dropped below $80k (currently ~$78.5k)
🔴24h liquidations hit $1.1B–$1.5B
Over 85% of those liquidations were longs
This was a classic long-squeeze cascade driven by the security news.
Binance says user funds remain safe and the issue is contained. Markets are still digesting the event.
$BTC
$ETH
$BNB
#BTC #ETH #Market_Update #NewsAboutCrypto
Not financial advice. DYOR.
On 29–30 Oct,
Binance detected a security issue linked to a third-party provider.
The exchange temporarily froze ~$3B in assets and is working with investigators.
📛♨️Market reaction was sharp:
🔴BTC dropped below $80k (currently ~$78.5k)
🔴24h liquidations hit $1.1B–$1.5B
Over 85% of those liquidations were longs
This was a classic long-squeeze cascade driven by the security news.
Binance says user funds remain safe and the issue is contained. Markets are still digesting the event.
$BTC
$ETH
$BNB
#BTC #ETH #Market_Update #NewsAboutCrypto
Not financial advice. DYOR.
