Binance denies system error in alleged $5M AKE loss

Binance 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 Rejects Claims of System Malfunction Following $5M AKE Futures Liquidation

A trader reports losing over $5M on Binance AKE futures after 30+ liquidations. Binance says no system errors occurred, citing market volatility as cause.

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…