Paradex decentralized exchange briefly priced Bitcoin at $0, triggering widespread liquidations and a blockchain rollback. The issue stemmed from a faulty database migration, exposing critical vulnerabilities in the platform’s infrastructure. Operations ceased for eight hours before resuming trading at 12:10 UTC.

The exchange initiated a rollback to restore user accounts and positions, confirming that all funds are safe. Starknet’s STRK token dropped 3.6% to $0.081 in response. Bitcoin trades at $92,958.36, down 2.17% in the past 24 hours.

The blockchain rollback raises concerns about decentralization in DeFi derivatives platforms, compromising transaction immutability and introducing counterparty risk. Traders may re-evaluate the trustless promise of decentralized exchanges following this event.

Hyperliquid emerges as a leading perp DEX market platform, signaling a preference for operationally robust venues amid market volatility. Traders concentrate risk on platforms perceived as reliable, despite broader token price fluctuations.

Read more at Yahoo Finance: Bitcoin Hits $0, Mass Liquidations, Rollback