A Binance user went on X, formerly Twitter, to describe what they call a catastrophic liquidation. They say more than 30 arbitrage positions in the AKEUSDT perpetual contract were forcibly closed, and that the loss for a single day topped 500,000 USDT. Their claim is blunt: the principal was almost completely wiped out.
Price Move: 6x in Eight Hours
By the user's account, AKE jumped from $0.0076 to $0.044859 between 21:00 on September 2 and 05:44 on September 3 (UTC). That's roughly a 6x move. And the wildest part came at the end: in the last seven minutes, the price ran from $0.022432 to $0.044859, basically doubling. The user says a move this extreme, with no fundamental catalysts and holdings packed into a few hands, points to market manipulation.
Allegations and Demand for Action
The user says the market maker intentionally triggered short squeezes and went after specific positions. They are asking Binance to release risk control logs and pay compensation for the losses. The post also compares this event to the TUT contract anomaly on August 9, with the user arguing that both incidents follow a similar pattern.
So far, Binance has not made any public response. The complaint is still only the user's side of the story, and the platform has yet to verify the facts.