Crypto market liquidations top 1.5 billion dollars after exchange hack
Image: Crypto.newsCryptocurrency markets suffered a major selloff following a reported security breach affecting $6.3 billion in assets at Binance. The incident triggered more than $1.5 billion in total liquidations across the market within 24 hours. Long positions accounted for the majority of the forced closures as prices for Bitcoin, Ethereum, XRP, and Solana declined. Bitcoin fell before recovering toward $78,500, while trading volume climbed significantly as participants reduced their exposure.
Key points
- Crypto liquidations surpassed $1.5 billion over a 24 hour period across the digital asset market.
- A reported security breach affecting $6.3 billion in assets at Binance triggered the selloff.
Why it matters
A major security breach at Binance triggered widespread market liquidations and forced closures for leveraged traders. Digital asset prices dropped before recovering partial ground while trading volume increased.
What's unclear
The exact number of liquidated traders differs between sources, with one reporting 237,314 and another citing 246,482.
Price context · XRP
At publication
$1.24
Now
$1.24
Change since
+0.00%
7 days · dashed line = publication
Sources · 2 publishers
Crypto.news
Tier 2
Bitcoin, Ethereum, XRP crash as crypto liquidations top $1.5B
Coverage timeline
- First reported by Coinpedia
- Also reported by Crypto.news
- CryptoVideos brief published
How this page is checked. AI drafted this brief from selected independent reports. Automated checks compare numbers, source coverage and topic terms, but may miss errors. Publication and evidence refreshes run automatically. Read the linked reports for context. Report an error
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