India's largest exchange curbs crypto futures trading as Binance incident disrupts liquidity

From the source

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. Binance’s security incident is having knock-on effects across crypto platforms, with India’s largest exchange, CoinDCX, temporarily restricting new futures positions as a precaution. Shortly before press time, CoinDCX said on X that it has placed its futures market in “reduce-only” mode, citing “recent developments impacting a global liquidity provider.” The exchange did not name the provider publicly, but a CoinDCX spokesperson told CoinDesk that it was Binance. Under the restriction, traders cannot open new positions or increase the size of existing long or short bets. They can still add or reduce margin on existing positions, while open orders continue to execute. CoinDCX said deposits and withdrawals are working without issue and that customer funds remain safe. The restriction applies…

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