Gate Exchange Glitch Triggers Mass Liquidation of Short Positions

Gate experienced a technical error involving the ticker symbol BENUSDT, which caused confusion between a stock perpetual futures contract and a low-priced cryptocurrency. The glitch led to the forced liquidation of over 200 short positions, resulting in total losses exceeding 49 million Thai Baht (approximately 1.46 million USD). The exchange identified and corrected the issue within minutes and has pledged to compensate all affected users for their losses.