CoinDCX Restricts Futures Trading After Binance Security Breach

CoinDCX has temporarily placed its futures market in Reduce-Only mode, preventing users from opening new positions or increasing existing ones. Traders can manage active positions, add or remove margin, reduce exposure and close trades.

The Indian crypto exchange announced the restriction in an Oct. 30 post on X. Deposits and withdrawals remain available, and CoinDCX has not reported any disruption to user funds.

CoinDCX described the restriction as a precaution to manage potential liquidity risks linked to recent developments involving a “global liquidity provider.” The exchange did not identify the provider or provide a date for restoring regular futures trading.

The announcement came as crypto platforms responded to a security incident involving Binance. Binance suspended deposits and withdrawals after the incident. Aave froze lending markets to prevent new supply and borrowing positions from being opened.

Circle and Tether froze more than $2.38 billion in assets linked to the incident, while Ripple froze about $200 million in affected assets, according to the source.

CoinDCX has not announced when users will be able to open or increase futures positions again. Further updates will be published through the exchange’s official communication channels.