Dear BingX Users:
Due to network server issues between 04:47AM - 06:07AM (GMT+8 Singapore Time) on July 2nd, 2020, the market service of Standard Contracts were abnormal, which caused a system error for users trading Standard Contracts. After repairs by the BingX technical team, the platform was operational at 06:07AM.
BingX hereby solemnly promises to you that if the system causes you unexpected losses, the platform will make full compensation!
Detailed Rules for Compensation
The system will compensate the users who encountered the following situations:
1. Users that experienced forced liquidation during this period will receive
full compensation Compensation Plan: Compensation Amount = Margin of Trade
If users’ position had a forced liquidation of 100 USDT during the abnormal
period, the user will receive 100 USDT compensation.
2. Users that cannot close positions during this time, causing losses,
will receive partial compensation (not including profit).
Compensation Plan: Compensation Amount
= Floating P/L at the end of the abnormality - Floating P/L
when the abnormality occurred
1) If a users’ position had a profit of 30 USDT when the abnormality occurred,
and the Max. loss was -10 USDT during the abnormal period, the user will receive
10 USDT compensation.
2) If a users’ position had a loss of -20 USDT when the abnormality occurred,
and the Max. loss was -70 USDT during the abnormal period, the user will receive
50 USDT compensation
3. Users that accidentally triggered Stop Losses will receive partial
compensation of losses.
Compensation Plan: Compensation Amount = Stop Loss Amount - Floating P/L
when the abnormal occurred
If a users’ position had a loss of 40 USDT when the abnormality occurred,
and triggered a stop loss to lose 70 USDT during the abnormal period, the
user will receive 30 USDT compensation.
The price will be calculated based on the user's optimal price.
The compensation will be distributed before 18:00 of July 4th, 2020 (GMT+8)
If you have any questions, please contact online customer service.
In addition to the above compensation, as an apology, BingX will issue additional airdrop benefits to users that encountered any abnormal orders between 04:47AM - 06:07AM (GMT+8 Singapore Time) on July 2nd, 2020.
- Bonuses are not limited to certain trading categories
- The bonus is valid in 7 days
Risk Warning: Digital asset derivatives trading is highly leveraged and risky, and may result in partial or total loss of account funds. Before conducting contract trading, investors must ensure that they understand the nature and rules of contract trading, and decide whether to participate in contract trading based on their investment experience, goals, financial status, and ability to bear risks. Thanks for your support and trust to BingX. We will provide a safe, fair and comfortable trading ecosystem for all investors!
BingX Operation Team