Binance Margin System May Have Been Targeted in $4 Billion Crypto Crash

A significant cryptocurrency market crash on October 11th, resulting in billions of dollars in lost value, may have been the result of a coordinated attack exploiting vulnerabilities in Binance’s margin system. Crypto journalist Colin Wu analyzes this possibility based on the timing of the event and Binance’s internal structure. The suspected exploitation focused on Binance’s Unified Account margin system, which allowed traders to leverage volatile assets as collateral for high-risk positions.