Binance Hack Sparks $1.5B Liquidation Bloodbath Across Crypto

Cryptocurrency liquidations surpassed $1.54 billion after Binance confirmed hackers stole $6.3 billion in the industry's largest breach on record. The marketwide sell-off disproportionately affected leveraged long positions, wiping out traders' collateral. The hack triggered a cascade of forced liquidations, amplifying the downturn across major exchanges and contributing to a broader market crash.