India's Largest Crypto Exchange CoinDCX Temporarily Restricts New Futures Positions Due to Binance Incident

October 30: According to CoinDesk, India's largest crypto exchange CoinDCX has temporarily restricted new futures positions after a Binance security incident disrupted a key liquidity provider. CoinDCX said on X 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 add or reduce 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 was given for resuming normal trading.