Backpack stopped the trade for planned maintenance at 10.00 am UTC on July 3 and reopened two hours later, but the restarted account errors that forced CEO Armani Ferrante to promise reviews and compensation.
Backpack Warned users On X that the platform would go offline at 10.00 am, only enter the post mode at noon and resume full trade at 12:10 pm, let the window with only post-only maker place orders or cancel but blocks the Takers activity.
When spot and eternal markets came back online, various users reported abnormal balance changes and ordering.
A trader established in Brazil, identified as Defi Remora, that wrote that A lecture request of $ 104,000 that was submitted the previous night was returned to his account after the downtime in the form of 891 Solana (SOL).
At the same time, the exchange expanded its margin -debet from 31,000 USDT to 111,000 USDT, which would manually relax the position at an estimated cost of $ 300 to $ 400.
Chinese user Hebi reported In a separate X -Thread that turns long positions to short positions and that some companies disappeared without a track on the ledger.
Hebi said that no audit path appeared in the account history and that the errors coincided with the downtime of Backpack.
Ferrante blames coding error, promises refund
Ferrante spoke to the events in a message to the Discord channel of the project and called the incident ‘a programming error’ and ‘unacceptable’.
He said that the technical team “would do a detailed assessment and further improve our process so that it no longer happens.”
Ferrante early hit customers to e -mail e -mail [email protected] And stated that he would personally deal with the claims. He wrote:
“If you had problems that was our fault, we will compensate.”
Ferrante added that the incident did not mean guardianship infrastructure, and claimed that the funds are completely safe. He also noted that Backpack uses a two-part multi-party calculation sporting tension, combined with custody of cold storage and continuous asset-per-asset-balance soning.
Backpack CEO did not offer a timetable for a post-mortem, but said that the company would publish the findings after completing an internal audit.
He also repeated Backpack’s policy to reimburse the loss of the user caused by exchange disorders, including unintended liquidations or incorrectly priced fillings.
To compensate users who had open positions and qualified for the potential airdrop of a native token of a backpack, the Chinese profile of the company promises on XX Double the points For users with active trading positions on 3 July.