Look, I've already admitted to myself my loss and that there's no getting through to you.
The alterative is that you pull your head out of your ass and admit that something doesn't add up on Kraken. Or just keep having this fight and losing customers every few months.
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So far everything adds up but I have an open mind. If anyone thinks anything nefarious happened, justifying of a rollback, please make your case. I know some people aren't happy with their trades but that's not enough to unwind everything.
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Please don't trade on margin if you don't understand how the market works. I'm sorry you had a bad experience. Please submit a support ticket and the team will see if there's anything we can do to help you.
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You've got pretty high hopes my friend. This is a problem they fix for future traders.
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When you roll back trades to benefit one group, you take from another group. It's actually creating more problems because then people don't trust the finality of trade settlement on your exchange.
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Sure. The team is working on some ideas while looking in to the data. Would love to hear if you've got any ideas beyond paying every losing trader's perceived losses out of our own pocket.
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So you're saying that any of your customers who use any leverage whatsoever on your platform could be wiped out almost instantly by what is essentially a fluke, with no recourse? How can you claim that your customer's funds are safe with you? Why did this only happen on Kraken?
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Yes. Our job is to secure your funds, not to tell you how to trade. Please don't trade on leverage if you don't understand the risks.
Risk of losing 90% more than what market rate is? How is that justified? That feels more like a platform issue rather than understanding the risk issue
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I don't understand why people aren't getting the gist of this.
Everything has risk. Leverage especially. Although risk is sometimes large or small, it _can_ happen.
And, as is often the case in this space, it _does_ happen. Always much more obvious after the fact, but still.
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Your lack of empathy is truly disturbing. Your users clearly had misguided faith that fair value would maintain some form of overall aggregate price. Why not code your systems to halt trading at a fixed std dev. from aggregate market price if depth is below a certain threshold?
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Um, are you new to crypto? Swings happen all the time, on all pairs, on all markets, on the regular. You're dreaming.
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This isn't about leverage though.
People go risky with leverage and burn themselfes.
The issue isn't leverage, the issue is that it hit prices that weren't on ANY other exchange or site at all other than yours
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Many people could NOT calculate the risk.
Nobody expected to have such MASIIVE downfalls as it happened on kraken.
The eth / ada fall had nothing to do with risk calculation it was clearly a technical error that many payed deeply for while you act snarky
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On the flip side: If you let traders trade with leverage (speculate) without transparency on how many orders on the book will be liquidated in one of these swan events - when your exchange unrolls the risk wagon, it took everyone with it - including traders with 0 leverage SL’s
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The cascaded sell market orders to dump speculative trades to cover Kraken’s risk screwed everyone else. Agreed, it’s not a trading engine problem, it’s a Kraken covering its risk creating a liquidity event problem
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