Futures Market Enters Reduce-Only Mode, India's Largest Crypto Exchange CoinDCX Temporarily Restricts New Position Opening

Odaily reports: CoinDCX posted on X platform that, affected by recent events impacting global liquidity providers, its futures market has entered "reduce-only" mode. A CoinDCX spokesperson confirmed that the affected liquidity provider is Binance, and this restriction is related to the Binance security incident. In this mode, traders cannot open new positions or increase the size of existing long or short positions, but can still add or reduce margin on existing positions, and open orders will continue to be executed. CoinDCX stated that deposits and withdrawals are normal and customer funds are safe; the restriction applies only to futures and is a temporary measure, and no timetable for restoring normal trading has been provided yet.