Lender Babel Finance Lost $280M Trading Customer Funds: Report

Lender Babel Finance Lost $280M Trading Customer Funds: Report

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The firm lost around 8,000 bitcoin (BTC) and 56,000 ether (ETH) in June in forced liquidations as the crypto market plunged to an 18-month low, sending bitcoin below $20,000, the deck shows, according to The Block. The trades were unhedged in what was described as a “volatile trading week.”



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