Binance users claim that 30 arbitrage positions were forcibly liquidated, resulting in losses of over 5 million USDT
2026-09-03 18:55:34
According to CoinMeta, Wu said that a user engaged in arbitrage trading, identified as xunlu, reported that more than 30 of their arbitrage positions on the Binance platform were forcibly closed at 5:44 a.m. on September 3, resulting in a daily loss of over 5 million USDT. The user questioned the fact that the ake token doubled in value within just 7 minutes and suspected that market makers and traders were engaging in malicious short-squeeze manipulation. They demanded that Binance investigate the manipulation of the akeusdt contract, disclose the clearing risk control logs, and compensate for the losses. In response, Binance's customer service stated that the ake token experienced significant market-wide fluctuations during that period, and the trends on multiple mainstream platforms and on-chain were basically consistent, indicating that it was a market-wide fluctuation rather than an abnormal price on a single platform. Binance does not offer spot trading for ake; the akeusdt contract refers to the spot price index of the entire network and has a marked pricing mechanism. The system is operating normally, and there were no malfunctions with the pricing mechanism. The forced closings were a result of normal market risks associated with high-leverage positions under extreme market conditions.
Source:X
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