Exchanges· ★★★· bearish·

Gate glitch: duplicate ticker triggers liquidation of 200 short accounts worth $1.46M

  • —The glitch stemmed from a ticker collision between Franklin Resources stock futures and a crypto token, both labeled BENUSDT
  • —More than 200 short accounts were liquidated, with total losses exceeding 49 million baht
  • —User screenshots showed losses of up to $1.46 million on a single account
  • —Gate pledged to compensate all losses; long accounts received unintended credits
Why it matters: The incident highlights ticker duplication risks and backend weaknesses at exchanges, potentially undermining user trust.
Source: Siam Blockchain