CoinScoopGate Addresses BEN Perpetual Futures Funding Rate Error Causing Massive Liquidations
On September 30 at 16:00 (UTC+8), Gate experienced a technical error where it confused BEN stock with BEN perpetual futures during funding rate processing. This led to an erroneous funding rate of 0.33 USDT for the 0.000585 USDT asset, causing massive liquidations for short positions and leaving some users with significant negative balances. Gate stated that approximately 200 accounts were affected and confirmed that all losses will be fully covered by the exchange.
Summaries are written by AI from the original article. Not investment advice.