Bybit's official statement regarding the abnormal ETHUSD Index Price incident on

23 Sept 2019

On 23 Sept 2019 UTC 20:53:19 UTC, Bybit received an incorrect ETHUSD pricing data
feed from one of the indexed exchanges, Kraken, with ETHUSD at 179.88 USD, which
resulted in a deviated Mark Price to $192.64 and a wick on chart which lasted for around 3
minutes.

The below screenshot showing that we got the 1st wrong price feed with time stamp:

The 2nd wrong price feed with time stamp:

Although we have upgraded our Mark Price system recently to eliminate price anomalies
(https://help.bybit.com/hc/en-us/articles/360034723934-Bybit-s-New-Spot-Price-Index-an
d-Mark-Price-System), however unfortunately at the time of the incidence, Bitstamp
wasn’t feeding any prices. This meant that we only had Coinbase and Kraken giving us
ETHUSD price feeds, but Kraken had the wrong price. As soon as Bitstamp’s price feed
came back, we were able to eliminate Kraken’s wrong price, as seen in the below
screenshot:

This incidence caused 197 users’ ETHUSD positions to be liquidated at the deviated mark
price as well as close to 200 clients stop orders being triggered at the deviated price or
had excessive slippage on wick execution. After discussing internally, we believed that
although the issues were caused by wrong price feeds of an external indexed exchange,
Bybit should have had better procedures to eliminate the price anomalies and protect our
clients from being exposed to the abnormal mark price. Therefore we have decided to
reimburse all the liquidated clients’ position losses back to the actual mark price at the
time without price anomalies which was $205.8, along with all of the fees that had
occurred. Clients will be able to restore their positions without any extra cost if they
choose to do so. For the stop order clients, we will investigate case by case and offer
reimbursement based on the slippage and the difference of the trigger price. This process
might take up to 7 business days.

We sincerely apologize for any inconvenience caused to all the traders and we will work
on our Mark Price system this week to prevent similar cases from happening.
At Bybit, we always put our clients first and value your feedbacks. If you were affected by
this issue and have more questions, please contact online customer support at
https://bit.ly/2QNjZ8i or email to support@bybit.com. Thank you.

Below is a list of affected liquidated UID, The compensation according to adjusted Mark
Price will be applied within 48 hrs.

UID
514479 500656 524932 585450 563524 500234 601815 578216
525044 571446 527571 560079 494417 506991 589417 608770
504949 608939 580632 542656 577129 566520 620841 578624
538296 545317 538877 619891 536421 540618 520784 494717
505265 614547 588742 544422 577094 614400 605522 592459
555712 589481 614090 610817 571228 572702 571710 605474
562706 574925 487126 557438 604183 564248 612869 606819
498899 495238 568089 605031 605760 560960 520377 588457
535322 610189 620511 523786 615919 517319 489308 599178
571105 561864 585999 570669 611643 589877 598802 545481
604201 497337 591789 621540 589029 616927 621637 610665
592980 503912 553738 583120 601036 567973 569935 618693
584569 615447 598149 593383 526548 620306 599341 508852
554964 589614 518490 613224 602612 570902 607856 592831
536277 594955 490207 534855 571704 622019 522496 564685
564392 616834 607750 571915 493926 566350 567743 559500
602300 542251 576897 538225 574961 584617 591283 532324
599124 617824 543425 484254 595780 610127 613032 592394
586947 585641 578107 532718 547579 601978 522028 601498
551951 561883 588994 592658 579503 543229 580863 504669
592456 588657 559760 514780 557204 547946 579447 571228
540163 528743 577831 522728 541408 563348 619838 598986
612847 603891 556264 570658 510222 593799 617734 594021
503965 565214 573286 586423 564829 530801 605138 620370
566604 620456 518276 524053 605397