CoinDCX restricts futures trading following Binance security incident
India's largest cryptocurrency exchange, CoinDCX, has placed its futures market into reduce-only mode after a security incident at Binance disrupted a key liquidity provider.
CoinDCX, India's largest cryptocurrency exchange, has restricted new futures positions after a security incident at Binance disrupted a key liquidity provider, CoinDesk reported.[3]
The platform transitioned its futures market into reduce-only mode in response to the disruption. Under this setting, traders can still close open positions and manage existing margin, but opening new positions or expanding existing exposure is temporarily blocked.[1][2]
CoinDCX stated that customer funds, deposits, and withdrawals remain unaffected by the trading curbs.[1][2][3]
Key facts
- CoinDCX restricted new futures trading positions after Binance's security incident disrupted a key liquidity provider.
- CoinDCX placed its futures market into reduce-only mode.
- Traders are permitted to close positions and manage margin, but they cannot open new positions or increase exposure.
- CoinDCX reported that customer funds, deposits, and withdrawals remain unaffected.
Sources · 3 sources
- C®
CryptoSavingExpert ®@CryptoSavingExpPost on X ·
Binance's security incident is now having a wider impact across crypto. India-based CoinDCX has moved its futures market into REDUCE-ONLY mode after disruption to a key liquidity provider linked to the Binance incident. Traders can still close positions and manage existing margin, but opening new positions or increasing exposure is temporarily restricted. CoinDCX says customer funds, deposits and withdrawals remain unaffected. This highlights just how interconnected crypto market infrastructure has become. An issue at one major exchange can quickly create liquidity problems elsewhere, even for platforms that were not directly involved in the original incident. The full impact of the Binance situation is still unfolding.
Open source - TM
That Martini Guy ₿@MartiniGuyYTPost on X ·
The Binance situation is now affecting other exchanges. India's CoinDCX has moved its futures market into REDUCE-ONLY mode after Binance's security incident disrupted a key liquidity provider. Traders can still close positions and manage existing margin, but they can't open new positions or increase existing bets. CoinDCX says customer funds, deposits and withdrawals are unaffected. This is a good example of how interconnected crypto liquidity actually is. A disruption at one major exchange can quickly affect trading conditions elsewhere.
Open source - CO
CoindeskArticle ·
Binance hack bites India's largest crypto exchange as it curbs futures trading CoinDCX has restricted new futures positions after Binance’s security incident disrupted a key liquidity provider. Deposits, withdrawals and customer funds remain unaffected, the exchange said.
Open source