UPDATE: Binance liquidations peak at $1.67B as exchange starts buybacks
CIE News ·
Update to UPDATE: Binance reports $6.3B security breach after compromised laptop
Based on reporting by crypto.news; not yet independently confirmed.
Following a suspected multibillion-dollar breach, market liquidations peaked at $1.67 billion across 254,045 traders while Binance paused withdrawals and initiated token buybacks.
Crypto derivatives liquidations peaked at $1.67 billion across 254,045 traders on October 30, 2026, as Binance halted withdrawals and began repurchasing affected tokens following an alleged multi-network security breach. As previously reported, market volatility initially triggered over $1.5 billion in forced closures following reports that between $5.7 billion and $6.3 billion had been drained from Binance hot wallets across Bitcoin (BTC), Ethereum (ETH), and Tron.
Long positions accounted for more than 86% of the liquidations, with BTC forced closures reaching up to $560 million and ETH closures hitting up to $360 million. During the selloff, BTC dropped below $77,000, while ETH, Solana (SOL), and XRP registered declines between 4.5% and 7%.
Binance suspended withdrawals to conduct emergency security audits, stating that preliminary findings pointed to a compromised laptop belonging to a DevOps engineer that permitted access to a service container. The exchange committed to covering all customer losses, and onchain data shows the platform has commenced repurchasing affected altcoins.
Key facts
- Liquidations peaked at $1.67B
- BTC liquidations reached $560M
- Binance paused withdrawals
- Exchange started token buybacks
Read the original at CoinMarketCap