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Reimbursement for Binance Futures ETH/USDT System Issue & Liquidation (2021-10-14)

2021-10-14 18:10
Fellow Binancians,
Binance Futures encountered a system issue which affected ETH/USDT perpetual contracts from 15:21:49 (UTC) to 15:57:27 (UTC) on 2021-10-14. The issue caused an unintended consequence to certain users. The issue was immediately isolated and has been resolved.
Binance will be taking the following action within 24 hours:
  • Reaching out to each impacted user individually via email
  • Reimbursing the insurance clearance fees to the impact users
  • Distributing a $100 USD commission voucher to each impacted user as a goodwill gesture
We apologize for any inconvenience caused. If you have further questions, please contact customer service for additional assistance.
Please note:
  • Binance Spot, Options users and all other Futures contracts were not impacted.
  • Impacted users will be able to see the reimbursement distribution in their account’s Distributions History in the User Center, labelled “ETH/USDT_1014 (Futures)”.
Risk Warning: Futures trading carries substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movements. The information here should not be regarded as financial or investment advice from Binance. All trading strategies are used at your discretion and your own risk. Binance will not be liable to you for any loss that might arise from your use of Futures. To learn more about how to protect yourself, visit our Responsible Trading resource page.
Thanks for your support!
Binance Team
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.
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