A trader just lost $1.46 MILLION without the market crashing. đłđž
No 50% dump.
No black-swan candle.
No massive liquidation cascade.
The problem was a $0.33 dividend charge on Gate.
Gate says it mistakenly applied the dividend from the wrong asset to the BENUSDT contract. The contract was trading around $0.000585 â making the $0.33 charge roughly 564Ă the contract price. â ïž
For leveraged shorts, that single charge wiped out available margin and triggered liquidations.
One reported account ended up showing a -$1.46M balance. đ©ž
Gate says around 200 accounts were affected and that it will cover the losses.
But thereâs another side to this story:
Long traders reportedly received unusually large credits â and Gate has not said how those funds will be handled. đ
A trading position didnât get destroyed by price.
It got destroyed by a naming error.
$GATA $BEN.US $BTC
#Crypto #Gate #Trading #Bitcoin #DeFi
No 50% dump.
No black-swan candle.
No massive liquidation cascade.
The problem was a $0.33 dividend charge on Gate.
Gate says it mistakenly applied the dividend from the wrong asset to the BENUSDT contract. The contract was trading around $0.000585 â making the $0.33 charge roughly 564Ă the contract price. â ïž
For leveraged shorts, that single charge wiped out available margin and triggered liquidations.
One reported account ended up showing a -$1.46M balance. đ©ž
Gate says around 200 accounts were affected and that it will cover the losses.
But thereâs another side to this story:
Long traders reportedly received unusually large credits â and Gate has not said how those funds will be handled. đ
A trading position didnât get destroyed by price.
It got destroyed by a naming error.
$GATA $BEN.US $BTC
#Crypto #Gate #Trading #Bitcoin #DeFi
