#lina My previous post mentioned the abnormal liquidation of LINA that occurred on March 25 at 17:14:33. Many others commented below the post saying they encountered the same issue, all at that exact time, within one second. Regardless of whether you were long or short, or how much margin was left in your account, everything was liquidated, and the account was cleared.
The process of excluding various possibilities is quite complex. I wrote some and then deleted them. Now, I won't beat around the bush and will directly give my conclusion: this liquidation was caused by the continuous decline in the price of LINA, triggered by Binance adjusting the trading pair's precision.
The most direct evidence is shown in the picture below.
It is obvious that before 17:00, LINA's K-line was very step-like, and after 17:00, the K-line became much more normal. The reason for this change is that Binance increased the price precision by one decimal place.
Evidence Two
The actual opening price of my position is 0.001681, but what is displayed above is indeed 0.000016.
From feedback from others, it seems that the opening price of LINA positions experienced a similar issue at that time, where two zeros were added after the decimal point, and there was a significant deviation in the calculation of the position's profit and loss.
Generally speaking, it is very rare for two decimal points to differ due to an error during calculations. However, I think it is particularly reasonable for this to occur during the adjustment of precision.
Below are the details of my forced liquidation record.
At that time, the auction loss was 1,508.344, and the LINA loss was 8,085.202536. However, in reality, it calculated my loss to be -82,234.7745. If we say that the system calculated my LINA loss to be ten times greater due to some error mentioned above, i.e., 8,085.202536*10 + 1,508.344 = 82,360.36936, then it roughly matches the total unrealized profit and loss they provided.
The specific reason why the loss increased tenfold may be due to the internal server data at Binance not synchronizing in a timely manner after adjusting the precision, or there might have been an exception during the synchronization process.
