Binance's Response to "Data Modification": Binance Futures Adopts Mark Price Liquidation to Mitigate Impact from Singular Platform Price Manipulation

BlockBeats News, October 15th, Binance co-founder He Yi responded to the “data tampering” incident on X platform, saying: “You can refer to the liquidation price of the same project. Binance Futures takes the mark price, which is the weighted average price after excluding extreme prices from multiple platforms. In history, some platforms used their own prices, making it easy for users to be liquidated in a flash crash, and users would think it was the platform’s manipulation. Therefore, one of the innovations of Binance Futures is using the mark price for liquidation to avoid extreme prices from a single platform. The candlestick incident had no motivation or reason; it was purely an internal team operational issue. We believed the announcement already explained it clearly. The only impact was that, except for when the order book was empty, a user’s historical order from a few years ago earned them a few tens of dollars.”