Crypto liquidations top $1.54B after Binance attack sparks selloff

The lopsided long liquidation split shows how crowded leveraged bullish positioning had become, turning an operational security failure into a market-wide deleveraging event rather than an isolated exchange problem. The detail that matters most is the compromised engineer laptop: this is a human and process failure, not a smart contract exploit, which shifts scrutiny toward exchange operational security across the sector. Whether Bitcoin holds its rebound or the incident becomes a broader confidence test for centralized venues is the open question.