The cryptocurrency market was thrown into chaos on Friday after US President Donald Trump announced plans to impose 100% tariffs on China and introduce new restrictions on software exports. The shock move triggered one of the biggest crypto selloffs in years, sending prices tumbling across the board.
According to data from CoinGlass, more than $19 billion in leveraged positions were liquidated within 24 hours, making it one of the largest liquidation events in digital asset history. Over 1.6 million traders saw positions wiped out, with $7 billion lost in a single hour.
Bitcoin, which had reached an all-time high of $125,000 earlier in the week, dropped 16% to briefly touch $105,000 before recovering to around $112,000 on Saturday. Major altcoins experienced even sharper declines, some plunging between 30% and 80%.
Exchange disruptions frustrate users
As the liquidation wave spread, many users of centralised exchanges such as Binance, Bybit, and OKX reported technical issues, including failed orders, frozen balances, and temporary access problems. Several traders said they were unable to close positions or withdraw funds during the crash.
Binance acknowledged intermittent service disruptions linked to “extraordinary trading volumes” and said it would review cases where users may have been directly affected by system errors. Other exchanges have yet to issue detailed statements, leaving many traders uncertain about recovering their losses.
ScamHelp can assist with disputes
If you were affected by failed transactions, withdrawal delays, or order execution problems during the recent crash, you may have grounds to dispute the issue with your exchange.
ScamHelp, a platform that helps crypto users navigate exchange problems and scams, can guide you through the process. They assist with reviewing account activity, compiling evidence, and filing structured disputes to seek fair outcomes.
While losses caused by market volatility cannot be recovered, technical errors or platform malfunctions that prevented users from acting during extreme market conditions may be eligible for review.
DeFi protocols remain stable amid chaos
While centralised exchanges struggled, decentralised finance (DeFi) platforms handled record trading volumes without interruption. Uniswap processed over $10 billion in daily volume, and Aave managed over $180 million in liquidations, both without downtime. The event has highlighted the resilience of decentralised systems compared to centralised platforms.
A reminder of the importance of accountability
The $19B liquidation has once again exposed the fragility of centralised crypto infrastructure. For investors affected, recovery may require careful documentation and formal dispute procedures.
If you believe your losses were caused by exchange errors or technical failures, ScamHelp can help you review your case and start a dispute.
Visit www.scamhelp.net to submit your case and speak with a dispute specialist.
