Security Incident · ETH Ecosystem
Babel Finance Proprietary trading failure
Crypto Financial Services Provider Babel Finance Suspends Customer Withdrawals due to crypto market turmoil.
- Reported loss
- 8,000 BTC + 56,000 ETH
- Attack category
- Proprietary trading failure
Incident Overview
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
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.