Due to system maintenance on 2023-09-25 17:07 to 17:17 (UTC+8), some users have encountered display anomalies on the assets and orders in Perpetual Futures. BingX took immediate action and has since restored normalcy in the first instance. As a platform attaching great importance to user experience, we have formulated the following compensation plan for affected users (who used the Perpetual Futures service during the incident):
1. For users who underwent forced liquidation due to the abnormality, the platform will issue compensation for the additional loss.
Compensation Plan: Affected users that failed to close positions during the abnormality which resulted in forced liquidation will receive compensation for the additional loss incurred.
Additional Loss = Forced Liquidation Amount - Loss Amount Calculated based on "Optimal Price"
2. For users who incurred increased losses or reduced profits due to the inability to close positions during the abnormal period, the platform will issue compensation based on the plan below.
Compensation Plan: A comparison will be made between the "optimal price" and the user's close price before 2023-09-26 12:00 (UTC+8). If the user's closed price is worse than the optimal price, the difference will be compensated. If the user's closed price is better than the "optimal price," no compensation will be issued.
3. For users whose orders failed to trigger TP/SL during the abnormality, the platform will issue compensation based on the plan below.
Compensation Plan: A comparison will be made between the trigger price of the TP/SL order and the user's close price before 2023-09-26 12:00 (UTC+8). If the user's close price is worse than the trigger price, the difference will be compensated. If the user's close price is better than the trigger price, no compensation will be provided.
Definition of the "Optimal Price":
1. If a user closes a position after the anomaly
For long positions: The optimal price is the highest price between the "time when the user accesses the affected service" and the "anomaly end time".
For short positions: The optimal price is the lowest price between the "time when the user accesses the affected service" and the "anomaly end time".
2. If the user closed his/her position during the abnormal period, then
For long positions: Optimal Price = the highest price from the time of visiting the affected service to the time when the position was closed
For short positions: Optimal Price = the lowest price from the time of visiting the affected service to the time when the position was closed
All compensation will be issued before 2023-09-27 18:00 (UTC+8).
- If you have any questions, please contact our 24/7 online customer support.
BingX Operations Team
BingX Official Channels
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