Bitget has detailed a compensation plan for users hit by abnormal price moves in TUTUSDT, LOBSTERUSDT and BICOUSDT contracts on Aug. 9, between 15:10 and 15:15 (UTC+8). The exchange will use the market’s fair price and account equity snapshot taken at 15:00 to issue USDT compensation to contract users whose short positions were force-liquidated because of the mark price anomaly. The coverage spans unified accounts, classic cross margin and isolated margin modes. Reference compensation prices are 0.21 USDT for TUT, 0.027 USDT for LOBSTER and 0.0897 USDT for BICO. Bitget also said it is strengthening monitoring of abnormal trading and concentrated positions, applying tougher listing and ongoing evaluation standards for high-risk trading pairs, dynamically adjusting leverage and position limits, and refining its mark price and liquidation mechanisms. Xie Jiayin, head of Bitget’s Greater China business, said the mark price issue and severe liquidity imbalance for the three contracts on Aug. 9, 2026 triggered abnormal liquidations of some short positions, causing nearly $40 million in user losses.
PANews reported on Aug. 10 that Bitget has responded to abnormal price swings in TUTUSDT, LOBSTERUSDT and BICOUSDT contracts that occurred between 15:10 and 15:15 (UTC+8) on Aug. 9.
Compensation terms
Under the plan, the exchange will take the market fair price and account equity snapshot at 15:00 to calculate USDT compensation for users whose short positions were liquidated because of abnormal mark prices. The arrangement covers unified accounts, classic cross margin and isolated margin. Reference prices are 0.21 USDT for TUT, 0.027 USDT for LOBSTER and 0.0897 USDT for BICO.
Risk controls
Bitget said it is also strengthening surveillance of abnormal trading and concentrated positions, raising the listing and ongoing evaluation bar for high-risk trading pairs, adjusting leverage and position limits on a dynamic basis, and improving its mark price and liquidation mechanisms.
Comment from Bitget’s Greater China head
Xie Jiayin, Bitget’s head of Greater China, said the mark price anomaly and severe liquidity imbalance for TUTUSDT, LOBSTERUSDT and BICOUSDT on Aug. 9, 2026 caused some short positions to be liquidated abnormally, with user losses reaching nearly $40 million.
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