727 FinancePANews October 30 news, according to CoinDesk, India's largest crypto exchange CoinDCX temporarily restricted new futures positions because a Binance security incident disrupted a key liquidity provider. CoinDCX stated on X platform that due to "recent events affecting global liquidity providers," its futures market has entered "reduce-only" mode. A CoinDCX spokesperson confirmed to CoinDesk that the liquidity provider is Binance.
Under the restriction, traders cannot open new positions or increase the size of existing long/short positions, but can still increase or decrease margin on existing positions, and open orders continue to be executed. CoinDCX said deposits and withdrawals are normal and customer funds are safe. The restriction applies only to futures and is a temporary measure, but no timetable for resuming normal trading was given.