I am a user doing funding rate arbitrage on Binance. At 5:44 AM on September 3, 2026, more than thirty arbitrage positions in my account were all forced to liquidate by the system, with a single-day loss of over 5 million USDT, and my principal almost went to zero. This is not the first time I have experienced market fluctuations, but this time, I believe the market maker maliciously squeezed shorts and conducted targeted sniping, and the platform should take responsibility for protecting users and preventing evil.
1. What happened that night
From 21:00 on September 2, 2026, to 5:44 on September 3, 2026, $AKE rose from 0.0076 to 0.044859, a 6-fold increase in 8 hours. In the short 7 minutes from 5:37 to 5:44, it doubled from 0.022432 to 0.044859. Under such market conditions of "no fundamentals, highly concentrated chips, and a 6-fold increase in 8 hours," any short position would be instantly blown through. It is hard to be convinced if it wasn't malicious manipulation and intentional short squeezing by a market maker.
2. Why I believe the platform should take responsibility
- Such price fluctuation speed in a short time is clearly manipulation; the platform should intervene and investigate.
- Ember @EmberCN had previously tracked that $AKE was being manipulated by a certain market maker https://x.com/EmberCN/status/2089288315816300850
- The market movement of $AKE on 9/2 is structurally highly similar to $TUT on 8/9: low liquidity small-cap coins, no fundamental catalysts, extreme one-sided market in a short time, on-chain fund anomalies, and concentrated liquidations across multiple platforms.
- Protect user interests from being plundered by malicious market manipulation.
3. My demands
- Please conduct a comprehensive audit of the manipulation of $AKEUSDT contracts on the night of 2026-09-02, disclose risk control logs, announce the timing, price, and involved positions of the liquidation that night, and accept verification from users and third parties.
- Withhold the manipulator's funds and compensate users for their losses by referring to the handling method of the 8/9 $TUT incident.
- Implement risk control for abnormal fluctuations in altcoins to prevent such incidents from happening again.
5 million USDT is a lesson paid for with my real money, and it should also be the tuition fee for the platform to patch its risk control loopholes.
@cz_binance @heyibinance @binancezh @binance @wublockchain12 @BlockDanceCN
