MarketGuardian

Bitcoin’s sharp drop below $104,000 triggered a wave of forced liquidations across crypto markets, wiping out more than $1.3 billion in leveraged futures positions within 24 hours.
According to market data, long traders absorbed nearly 90% of total losses, totaling $1.17 billion, as BTC failed to reclaim the $113K resistance and momentum turned sharply bearish.
Major altcoins followed the decline — Ethereum (ETH) fell to around $3,650, and Solana (SOL) dropped near $157, adding over $300 million to total liquidations. The overall crypto market cap slid about 4% to $3.6 trillion.
Analysts note that such large-scale liquidations often mark capitulation zones, where excessive leverage is flushed from the system. However, with open interest still hovering near $30B, traders remain cautious ahead of this week’s Federal Reserve rate decision.
Bottom line:

Leverage has been shaken, not cleared. Expect continued volatility as the market searches for a new equilibrium.
— MarketGuardian ⚔️ #Liquidated #CryptoNews #Binance #Bitcoin #Ethereum #Altcoins #CryptoMarket #FuturesTrading #MarginTrading #LeverageTrading #CryptoAlerts #MarketCrash #CryptoLiquidation #CryptoUpdate

The cryptocurrency world moves fast, and understanding the roles of different participants in the market is crucial—especially when it comes to ethical behavior on exchanges. One key topic that often causes confusion is the relationship between traders, liquidations, and market makers. Let’s break it down.
Market Makers Are Not Traders
First, it’s important to clarify that market makers are not the same as traders. Traders buy and sell assets to profit from price movements. Market makers, on the other hand, provide liquidity. They place buy and sell orders on the order book to ensure that other participants can trade efficiently at fair prices. In essence, market makers help maintain a smooth and stable trading environment.
Ethical Responsibilities of Exchanges
Exchanges have a critical responsibility to uphold ethical standards in their operations. This includes:
Transparent Liquidation Processes – Liquidations occur when traders fail to maintain sufficient margin on leveraged positions. Ethical exchanges ensure that liquidations are executed fairly, with no favoritism, manipulation, or hidden practices. Clear communication and transparent rules are essential.
Protecting Market Integrity – Exchanges must prevent manipulative practices such as spoofing or wash trading. They are responsible for monitoring market maker activity to ensure that liquidity provision does not cross into unfair advantage over traders.
Educating Users – Exchanges should provide clear explanations of how liquidations and market making work. Misunderstandings can lead to mistrust and unnecessary panic in the market.
Market Makers’ Responsibilities
While market makers are crucial for market health, they also have ethical duties:
Fair Liquidity Provision: Market makers should provide consistent buy and sell orders without attempting to manipulate market movements.
Responsibility During Volatility: During extreme market swings, market makers should act responsibly to prevent unnecessary cascading liquidations that can harm retail traders.
Transparency: Any incentives or agreements that influence order placements should be disclosed to maintain trust in the exchange.
Why This Matters
Ethical behavior in exchanges is not just a regulatory checkbox—it directly affects the stability and trustworthiness of the crypto ecosystem. When exchanges and market makers act responsibly, traders experience fairer prices, fewer surprises during liquidations, and a healthier overall market.
In summary, understanding the distinct roles of traders and market makers, and recognizing the ethical responsibilities of exchanges, is vital for anyone participating in crypto markets. Clear rules, transparency, and accountability make the market safer and more reliable for everyone.

If you've experienced a liquidation on Binance or another cryptocurrency exchange due to actions by their approved market makers, and you're in Hong Kong, you can lodge a formal complaint with the Securities and Futures Commission (SFC). This guide outlines the steps to take when filing such a complaint.
📝 Steps to File a Complaint with the SFC
1. Gather Necessary Information
Before submitting your complaint, ensure you have the following details:
Personal Information: Your full name, contact details, and identification number.
Incident Details: A clear description of the event leading to your liquidation, including dates, times, and any relevant communications.
Evidence: Screenshots, emails, transaction histories, and any other documentation supporting your claim.
Exchange Information: Details about the exchange involved, including its name, platform, and any relevant account information.
2. Access the SFC's Online Complaint Form
The SFC provides an online complaint form for issues related to intermediaries and market activities. You can access it here:
https://www.sfc.hk/en/Lodge-a-complaint/Against-intermediaries-and-market-activities/Online-Complaint-Form
Alternatively, a PDF version of the complaint form is available for download:
https://www.sfc.hk/en/Lodge-a-complaint/Against-intermediaries-and-market-activities/Complaint-Form-PDF
3. Complete the Complaint Form
Fill out the form with accurate and detailed information. Be specific about the actions of the market maker and how they contributed to your liquidation. Include all evidence you've gathered.
4. Submit the Form
After completing the form, submit it through the online portal or send the PDF version to the SFC's designated email address, if provided. Ensure you keep a copy of the submission for your records.
5. Follow Up
After submission, monitor your email for any correspondence from the SFC. They may request additional information or clarification regarding your complaint.
🧾 Additional Tips
Be Clear and Concise: Clearly state the facts without unnecessary details.
Stay Professional: Use formal language and avoid emotional language.
Keep Records: Maintain copies of all communications and documents related to your complaint.
📌 Note on Binance's Compensation
In October 2025, Binance announced plans to compensate users affected by a technical issue during a market crash that led to significant liquidations. Approximately 1.67 million traders were impacted, with long positions being the most affected. If your liquidation occurred during this event, you may be eligible for compensation. For more information, refer to Binance's official statement:
https://finance.yahoo.com/news/binance-compensate-users-technical-snag-161522868.html
📍 For Users Outside Hong Kong
If you're located outside Hong Kong, the process for filing a complaint may vary. Here are some resources for other jurisdictions:
United States: The Commodity Futures Trading Commission (CFTC) has filed complaints against Binance for operating a platform for U.S. customers without proper registration. For more details, refer to the CFTC's filing:
CFTC https://www.cftc.gov/media/8351/%20enfbinancecomplaint032723/download
(COMPLAINT FOR INJUNCTIVE AND OTHER EQUITABLE RELIEF AND
CIVIL MONETARY PENALTIES UNDER THE COMMODITY EXCHANGE ACT
AND COMMISSION REGULATIONS)
Bahrain: Users in Bahrain can submit complaints through the Central Bank of Bahrain's complaint form:
https://www.cbb.gov.bh/complaint-form
Binance
United States (Binance.US): If your complaint pertains to Binance.US, you can contact BAM Trading Services at 1-844-900-1450 or via email at [email protected]
For unresolved issues, you may complete an online complaint form as stated on the File a Complaint against a Financial Institution or Enterprise page. For more information, visit:
support.binance.us

The October 10, 2025 crypto crash was not a random market event — it exposed systemic weaknesses, possible unfair market maker activities, and failures by major exchanges like Binance to uphold transparency and protect users.
Thousands of traders across the world watched their accounts liquidate within seconds, many on 1x or 2x leverage, as prices on several pairs — including ATOM, IOTX, and others — plunged to $0.0001 before instantly recovering.
Despite repeated outreach, Binance has failed to provide transparent answers or explain why its own systems allowed such abnormal price behavior.
Many victims report ignored support tickets, copy-pasted replies, or refusals to disclose market maker data, even though Binance’s Terms & Conditions require fair treatment, accurate data feeds, and transparent risk management.
This silence has fueled anger and confusion, leaving victims without accountability or meaningful compensation. While a limited 30% compensation plan was offered to some, the majority of affected users were excluded without explanation, despite suffering near-identical losses.
Why Filing an SFC Complaint Matters Now
Even if you are not based in Hong Kong, Binance’s primary legal and compliance entities fall under Hong Kong and related Asia-Pacific regulatory oversight.
Filing a complaint through the SFC’s official portal is a vital step toward building collective regulatory pressure.
Each individual complaint, when filed clearly and supported with evidence, adds weight to the overall record of misconduct and can:
Trigger formal investigations into Binance’s internal controls and market maker relationships.
Encourage cross-jurisdictional cooperation between regulators (e.g., CFTC, SEC, ESMA, and others).
Establish a documented regulatory trail that victims can later reference in arbitration or legal proceedings.
This process not only strengthens your individual claim — it contributes to systemic accountability for the entire crypto industry.
How to File Your SFC Complaint Against Binance
📄 Form Link: https://www.sfc.hk/en/Forms/Complaint-Form
When completing your submission:
Under “Details of the company”, list Binance and any associated local entity if applicable (e.g., “Binance Asia Services” or “Binance Holdings Limited”).
Clearly describe your losses on October 10, 2025, including:
The pair traded, position size, and leverage used.
Liquidation time, price snapshot, and account balance before/after.
Evidence that market prices fell below logical thresholds or exchange feed integrity was compromised.
Attach screenshots, trade logs, and correspondence with Binance support.
Under “Nature of misconduct”, include points such as:
Failure to maintain orderly markets under its own risk rules.
Refusal to provide market maker transparency.
Failure to comply with compensation promises or dispute resolution obligations.
Reference your Binance ticket number(s) and any public announcements or compensation posts.
Be clear, concise, and factual — your goal is to show a pattern of regulatory concern, not emotional appeal.
Join the Global Record of Accountability
If you’ve already filed a support ticket or complaint, do not stop there.
Submit your SFC complaint, share your case summary publicly (with sensitive info redacted), and encourage others to do the same.
The greater the number of consistent submissions, the stronger the message regulators will receive:
Retail traders deserve fairness, transparency, and restitution.
You can also submit similar reports to:
CFTC (U.S.) – https://www.cftc.gov/complaint
SEC Tips & Complaints – https://www.sec.gov/tcr
European Regulators (ESMA / National) – https://www.esma.europa.eu
Each form of pressure increases scrutiny and accelerates action.
Standing Together
The October 10 event was a defining moment for digital asset markets — a warning that even top exchanges can fail their users under pressure.
By filing complaints, documenting evidence, and uniting across borders, traders can force transparency, pressure regulators, and push for the reform the industry desperately needs.
This is not only about financial recovery — it’s about restoring trust in a system that claims to be transparent, but too often hides behind complexity and silence.
📎 SFC Complaint Form: https://www.sfc.hk/en/Forms/Complaint-Form
📎 Binance Feedback Page: https://www.binance.com/my/user-support/feedback/entry
You can share this to other victims. Let's stand together.
#CryptoCrash #October10Crash #Binance #SFCComplaint #MarketManipulation #TraderProtection #AccountabilityNow

On October 10, 2025, the global cryptocurrency market experienced an unprecedented wave of liquidations. Prices of many altcoins, including ATOM, IOTX, and others, temporarily collapsed to near-zero levels, with some hitting as low as $0.0001. Traders across the globe, from seasoned investors to newcomers, suffered substantial losses—some losing tens of thousands of dollars on positions with low leverage.
While extreme volatility is part of trading, evidence suggests that abrupt liquidity withdrawals, unfair market maker activities, and other market dynamics magnified the damage. Many traders reported that Binance did not respond to questions, and in some cases failed to follow its own Terms and Conditions, leaving victims without proper support or compensation.
Steps to Protect Yourself and Seek Accountability
Document Every Detail of Your Losses
Screenshots & trade history: Capture positions, liquidation prices, leverage, and balances.
Support correspondence: Save all tickets, chat transcripts, and any official responses from exchanges.
Exchange announcements: Archive official statements about the crash or liquidity events.
A well-organized record is essential for arbitration, regulatory complaints, or legal action.
Engage Exchanges Through Official Channels
Submit formal tickets detailing losses and reference any previous support numbers.
Request transparency reports on market maker activity and order book data during the crash.
Persistence matters; even if ignored initially, formal records are key for escalation.
Understand Legal Rights and Compensation Policies
Some exchanges offer partial compensation (e.g., 30%) for system failures or extreme losses.
Others strictly adhere to their Terms of Service, which may limit liability for market maker misconduct or volatility.
Knowing the rules helps determine if arbitration or regulatory action is required.
File Regulatory Complaints Globally
Hong Kong: Securities and Futures Commission (SFC) handles misconduct and unlicensed activity.
United States: CFTC or SEC for futures or spot trading abuses.
European Union: National regulators oversee platforms in their jurisdictions.
Regulatory pressure can compel exchanges to review events and improve transparency.
Pursue Arbitration if Needed
Platforms like Binance often have arbitration clauses.
Arbitration can lead to binding resolutions, including potential recovery if wrongdoing is proven.
Filing fees (e.g., at HKIAC, starting ~USD 1,000) can sometimes be requested to be covered by the exchange.
Advocate for Systemic Change
Demand market maker oversight to prevent liquidity manipulation.
Push for stress-tested Auto-Deleveraging (ADL) and liquidation systems.
Require exchanges to publish detailed post-event reports on order book behavior and market maker actions.
Collective action via social media, petitions, and organized complaints strengthens trader influence.
Protect Yourself for the Future
Limit leverage, especially on volatile altcoins.
Diversify holdings to reduce exposure.
Monitor exchange announcements on system upgrades, risk controls, and market maker rules.
Use stop-loss and risk management tools to mitigate sudden shocks.
⚖️ Key Takeaways for Victims
Document thoroughly – screenshots, logs, and official correspondence.
Engage exchanges formally – submit claims and request transparency.
Know your rights – understand compensation policies and legal avenues.
File regulatory complaints – in all relevant jurisdictions.
Pursue arbitration – request fee coverage if needed.
Advocate for market reform – demand oversight and transparency.
Strengthen personal risk management – avoid repeating losses.
The October 10, 2025 crash was historic, highlighting unfair market maker activities and gaps in exchange accountability. By acting strategically and documenting carefully, traders worldwide can assert their rights, push for meaningful change, and demand stronger protections.
Binance Feedback: https://www.binance.com/my/user-support/feedback/entry
SFC Complaint Form: https://www.sfc.hk/en/Forms/Complaint-Form
#CryptoCrash #Binance #TraderProtection #LiquidationAwareness #October10Crash #MarketMakerTransparency