Digital Asset
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Security Incident · ETH Ecosystem

Babel Finance Proprietary trading failure

·Historical incident record

Incident Overview

Crypto Financial Services Provider Babel Finance Suspends Customer Withdrawals due to crypto market turmoil. In July, documents revealed that Babel Finance lost more than $280 million in bitcoin (BTC) and ether (ETH) as its proprietary trading failure. Specifically, it lost around 8,000 BTC and 56,000 ETH in June after facing liquidation due to a severe market downturn.

Sources & References

Original incident referencehttps://www.theblock.co/post/160230/babel-finance-crypto-lost-280-million-proprietary-trading-restructuring (opens in a new tab)

This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.

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