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      Binance User Reports $5 Million Liquidation in AKE Contract, Calls for Investigation

      A Binance user has reported a significant loss of over 5 million USDT due to the forced liquidation of more than thirty arbitrage positions in the AKEUSDT contract. The user claims that the principal amount was nearly reduced to zero following this incident, which they allege was caused by malicious market manipulation, including short squeezing and targeted attacks.

      The complaint details a rapid price increase of the AKE contract, which surged from 0.0076 USDT to 0.044859 USDT within an eight-hour period from September 2 to September 3. The user noted that the last seven minutes of this timeframe saw the price double from 0.022432 to 0.044859 USDT, raising concerns about the legitimacy of such a drastic market movement without fundamental support.

      The user has called on Binance to investigate the circumstances surrounding this liquidation and to disclose risk control logs. They also suggested that users should be compensated for their losses, drawing parallels to a similar incident involving the TUT contract on August 9. As of now, Binance has not issued a public response regarding this complaint, which remains a unilateral statement pending further verification.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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