Crypto liquidations hit $1.57 billion after $6.3 billion Binance hack lowers Bitcoin, Ether

This event corresponded with a significant rise in crypto futures liquidations, which reached $1.57 billion.

The substantial movement in liquidations underscores the immediate market reaction to the security incident at the exchange.

Regulators and market participants are closely monitoring the flow of capital following such large-scale platform breaches.

This surge in liquidations reflects heightened volatility across the digital asset ecosystem.

Earlier coverage

• Binance hacker's 18,270 BTC, 500,000+ ETH haul tops Coinbase treasury Oct 30
• Crypto selloff wipes out $1.5 billion in leveraged bets on Bitcoin, ether, XRP Oct 30
• Standard Chartered expects crypto pressure after $6.3 billion Binance hack Oct 30