Wish to share my experience happened a day ago about the glitch on kucoin system that caused the forced liquidation unexpectedly which also costs me some extra amount of BTC lost, not from the liquidation but just … *magically disappeared*.

Full story (but try to make it short): I opened the Long position at **$9288** two weeks ago and last night I got an email that my debt ratio exceeds 97%, which trigged the forced liquidation at $**9178**, … which is totally unreasonable since the debt ratio at that point was just 92%.

I got the information from the customer support team that there was some glitch in the system that the 3rd-party price suddenly marked the margin price down to somewhere around $8800 and trig the liquidation.

Bagaimanapun, I was still ok with the liquidation because being liquidated at -1% (leverage x10) should not be so bad but what made me shock was my BTC balance that should be reduced by 14% (-1.2% at leverage x10 + some interest), turns out it was actually reduced by **40%**, 3x times more than it should be, which is some thousands USD in number.

I started to compile all the number and found that there is definitely something wrong on kucoin side. Have already contacted the support and they could not help me on anything but giving me the bonus BTC with $30 value insteadLost some thousands and get back $30 …

FYI, the incident happened at 01.51 A.M. PDT. Would like to share my experience because you might want to check your margin trading portfolio and see if everything is still good.

I have already given up getting my BTC back, even though I have the evidence and full calculation table showing what is happening, but they just could not help me. Still would love to hear from anyone sharing the same experience here though.


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2 Komentar

  1. kucoin_moderator di 6. Juli 2020 di 7:46

    We’re glad to assist you with your issue. Please check your inbox, we’ve sent you a message. Terima kasih!

     


  2. AlgoRhythm17 di 6. Juli 2020 di 7:46

    Similar thing happened to my long in Tezos. I was liquidated when there was barely a price decrease, but it appears the price had a small glitch lower for a second causing me to be below the 97% liquidation threshold. Happened just before 2am PDT on July 1. I haven’t done too many calculations or reached out to KuCoin, but it did look premature.