A sudden price reversal triggered $82 million in liquidations, coinciding with South Korean exchange Bithumb facing investigation over a $40 billion transaction discrepancy.
Bitcoin briefly touched $72,000 before reversing sharply, leading to $82 million in liquidations for leveraged traders. The market move came as Bithumb, a major South Korean cryptocurrency exchange, is under investigation after a reported $40 billion transaction error. The incident has raised concerns about operational integrity and risk management practices across crypto trading platforms.