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FTX Rollback Announcement 2019-10-26

FTX Crypto Derivatives Exchange
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Dear FTX users,

 

FTX encountered data issues around 00:41:00 UTC on October 26, 2019.

 

   1.  Rollback on Trades

We have rolled back all trades done on all markets between 00:41:00 UTC and 00:44:01 UTC (when we brought the site offline to fix the issues). FTX was back online at 03:35:00 UTC. Rollbacks have been done by 03:10:00 UTC, October 26, 2019.

   2.  Rollbacks on Funding Payment

Erroneous funding payments were rolled back by 04:00:00 UTC. We only rolled back funding payments made by customers; customers can keep all funding received.

   3.  Liquidations

Liquidation will be turned back on at 07:00:00 UTC, October 26, 2019. Please take necessary actions to protect your assets before liquidation starts.

 

The cause of the issues was a data processing issue within the backstop liquidation engine which, in extreme circumstances, lead to it sending the same liquidation order too many times.  We’ve identified and fixed that error, and rolled back all of the erroneous liquidations. 

 

Our sincere apologies for what happened and if you have any questions regarding your positions or balances as of 00:41:00 UTC, please send an email to support@ftx.com.

 

We would like to make the following things clear:

 

  1. All erroneous trades have been fixed
  2. All erroneous funding payments have been fixed
  3. We didn’t incorrectly liquidate anyone as a result of this and are delaying liquidations for another few hours

 

Thank you for your patience and continuous support to FTX.

 

FTX Team

 

________________________________________
FTX Crypto Derivatives Exchange: https://ftx.com

Email: support@ftx.com

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