Gate Trading Error Leaves One Account With $1.46M Loss
- —A $0.33 per-share dividend was charged to BENUSDT shorts on Oct. 8 at 08:00 UTC
- —BENUSDT traded near $0.000585, making the charge about 564 times its price
- —One account on X showed a $1.46M loss; about 200 accounts were affected
- —Gate said it is restoring balances and will absorb the full loss
Why it matters: The incident highlights the risks of stock-linked products on crypto exchanges, where ticker collisions can trigger mass liquidations.
Source: BeInCrypto FR