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Did a Targeted Exploit Sink Binance? Analysts Probe the $1 Billion Liquidations Loss
Oct 11, 2025
< 1 min read
by Peter Mwangi
for CoinEdition
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- Analyst links Binance crash to targeted exploit in unified margin system.
- USDe, BNSOL, WBETH depeg triggers large-scale forced liquidations.
- $1B loss highlights need for stronger exchange risk controls.
The sudden market downturn that shook the crypto market this week may have been the result of a coordinated attack directed at Binance, according to Forgiven, an executive from the Conflux (CFX) network.
In a post shared on X, the executive alleged that the incident exposed structural flaws that allowed cascading liquidations across major trading pairs.
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