Bitcoin price plummets to zero on Paradex crypto exchange

On January 19, 2026, an incident occurred on the Paradex decentralized exchange in the Starknet ecosystem that shook the crypto market: the price of bitcoin BTC $89,999.36 Mezo Wrapped BTC -2.02% Market capitalization $52.68 million VOL. 24 hours $1.16 billion temporarily fell to zero, causing massive liquidations of traders' positions. The site’s team was forced to take a radical step — rolling back the protocol to its previous state.

According to official data, the failure was recorded at 07:36 GMT 2, and the work resumed at 14:15. The system was returned to block 1 604 710, and all open orders were closed forcibly, except for TPSL. Paradex representatives assured that users' funds remain safe and that the process of their return is ongoing.

The exact extent of the losses is currently unknown: the number of liquidated traders and the amount of losses are not disclosed. Moreover, the incident is not covered on the exchange’s official page on X (formerly Twitter), which only increases criticism from the community.

According to DeFiLlama, the daily trading volume of perpetual futures contracts on Paradex reaches $ 1.6 billion, making the event particularly resonant for the market.

Some users accused the team of violating the basic principle of blockchain immutability and called for a massive withdrawal of assets to demonstrate distrust of the platform. The incident was yet another reminder of the risks of working with decentralized exchanges and the importance of transparency in crisis situations.