Report suggests Binance crash could have been a planned attack.
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Oct 12 2025Coordinated Exploit: A report from Wu Blockchain indicates that the October 11 crypto market crash may have been a premeditated attack exploiting a vulnerability in Binance's Unified Account margin system, leading to significant depegging of assets like USDE, wBETH, and BnSOL.
Impact of Liquidations: The crash resulted in mass liquidations across Binance, with estimated losses between $500 million and $1 billion, as the system's design allowed yield-bearing assets to amplify collateral risks, echoing concerns similar to the LUNA-UST collapse.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
