Binance denies system error in alleged $5M AKE loss
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Cryptocurrency News | Cryptocurrency Prices | Market CapBinance denies system error in alleged $5M AKE loss
Binance has denied that a system or pricing failure caused more than $5 million in alleged trader losses as the AKEUSDT perpetual contract surged from about $0.0076 to nearly $0.045 on Sept. 3. Binance says AKE liquidations followed market volatility…
Binance refused that a technical failure would cause the alleged losses of more than $5 million suffered by AKE traders, while the perpetual AKEUSDT contract skyrocketed almost 492% in minutes. The exchange attributed the settlements to market volatility and defended the operation of its brand price, but the affected trader requires records to review what happened. *** A trader claims that more than 30 financing arbitration positions were settle…
Binance Denies System Error Behind Alleged $5M AKE Trader Losses
TL;DR: A trader reported the forced liquidation of more than 30 arbitrage positions in the AKEUSDT perpetual contract on September 3, 2026, with estimated losses exceeding 5 million USDT. The AKEUSDT contract price surged from $0.0076 to a peak near $0.045 during the same session. Binance stated that its liquidation engines, pricing models, and risk controls operated normally during the volatility event. Binance rejected allegations of an alleg…
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