90% price drop in 5 mins! so the only thing Kraken is good and will be known for is bottom hunting! poor people who would have to loose the money because as you said this will happen again.
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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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I was wiped out, completely. I am still in a state of shock. I was NOT over leveraged at all. I was using it responsibly. Any way you paint it, you are saying that your exchange is untrustworthy, and no one in their right mind should use it.
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Any amount of leverage is risky. This was effectively a grey swan event, a bad beat. You bet on black and came up 00. Depends on how you define trustworthiness. Everything operated as expected, orders matched accurately, liquidations happened predictably. Please submit a ticket.
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Someone will review your case and you will be included in any sort of user retention initiative.
Can we expect some kind of refund? or is that out of the picture?
you allow leverage but your funding pools for margin dries up so quickly. That's is the main issue I guess and that is what is the issue with Kraken is and so Kraken should take responsibility.
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The crash happened when no one could log on due to connectivity issues. There's no coincidence. This caused there to be no buy pressure because Kraken was shut down combined with the cascade of selling pressure from stop losses. Refund your users. This is a complete FU by Kraken.
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Bull market ✅
Highest amount of users(ever on kraken?)✅
90+% long on high cap coins✅
Seems like a decent time for some sort of attack. Imagine the revenue this is going to bring to other exchanges as traders leave kraken. Can't rule this is out as coordinated.
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Also, lots of people were willing to buy but the system cancelled thier order. How can you not expect prices to fall when this was happening.
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I highly doubt there were whales in each of these coins, specifically on kraken, that caused the prices to plummet further than other exchanges. It happened across the board. That sure seems like an error on kraken’s part, not the presumed “uneducated” traders
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It was collateral for leveraged margin positions that got liquidated on Kraken. The order books had people lined up to buy if the price plummeted. It's not that hard to understand.
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If you do end up looking at retention methods I would like to add that most traders affected by this aren't looking for reduced fees as an option. Some type of reimbursement is what's on everyone's mind.
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You could offer some sort of funds to people to only use on kraken for a certain amount of time and require they use it to trade during that time.
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