100% a risk. This is a pretty thorough document on how these cases are handled.https://medium.com/@Austerity_Sucks/different-liquidation-models-of-platforms-in-bitcoin-futures-28480354253f …
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I’m not sure the exchange details are available to answer those questions. But the same questions exist for any traditional exchange.
Most exchanges only socialize losses among members, not among anyone with an account (and most futures exchanges have *much* higher margin reqs than crypto derivatives exchanges which alleviates a lot of the risk)
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And clawbacks have happened in the past. Exchanges have worked hard to make more stable liquidation procedures and increase their insurance funds. e.g. FTX has an insurance fund worth over $100mm right now.
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Looks like it's only $15MM in USD and 6M of their own token (currently at $58 after a surge) thoughhttps://ftx.com/status
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