Binance’s Internal Pricing Model Culprit in $19 Billion Crypto Wipeout

On October 10th, a staggering $19 billion was wiped out of the cryptocurrency market in what became one of the most significant liquidations ever witnessed. New data reveals that this massive loss was triggered by Binance’s reliance on its internal pricing model instead of using trusted external oracles for asset valuations. The incident raises serious concerns about transparency and risk management within the crypto space. Read more: $19B Crypto Liquidation Tied to Binance Pricing Flaw