Hopefully you read this and can freeze the perpetrator's account

Question

Hopefully you read this and can freeze the perpetrator's account

before they withdraw. I had a position in SRN-PERP that was notionally about 120% of my account value, and an unrealized gain on the position.

Someone is manipulating the market, and the contract dropped 90% in price in a matter of minutes, liquidating me and probably a large number of others.

Why can anyone with a large enough balance relative to the market liquidate almost all other users simply by repeatedly selling as rapidly as possible until the price gets to zero?

The contract was trading at less than a quarter of the index price and the lowest price at any exchange for one simple reason: someone had enough money to sell repeatedly and rapidly in an attempt to enrich themselves. My entire account was liquidated based upon an imaginary value and ended up negative!?? This is pure market manipulation by someone who knew they had more funds than a significant portion of the open interest

It would absolutely be criminal to any regulatory body.

I tried to take some screenshots. It looked to occur around 20:00 UTC on June 18. and possibly before that.

I hope you can make this right. I think it also sheds light on a serious underlying issue with the exchange.

(it is making me wait an hour to send this)

Three quarters of the open interest is gone and even an hour later it was trading at half the price vs anywhere else and vs the index.

(more time passes)

#crypto-exchange #cryptocurrency #english #ftx

0

18.06.2022

6 ответов

71 просмотр

Syvuk Автор вопроса

I submitted a support ticket with a screenshot and a little less information since it was a few hours ago. Someone could walk away with tens of millions from this terms of service and legal violation, so I thought you might find it most prudent to attend to this sooner rather than the standard 24-48 hours. I have had support tickets take weeks, so there is definitely some upside risk on response time. I will reply to any further updates in the support ticket.

0

18.06.2022

Vikir Baskerville

Syvuk
I submitted a support ticket with a screenshot and...

the team has been notified of the situation thank you

0

18.06.2022

Vikir Baskerville

Syvuk
I submitted a support ticket with a screenshot and...

you can send me the ticket number privately

0

18.06.2022