BitMEX Releases October 11 Flash Crash Review Report: System Remains Stable, Accounting for Only 0.2% of Total Market Liquidations

Odaily Planet Daily News – BitMEX released a review report on the October 11 market flash crash, stating that during this record-breaking deleveraging event, the platform's system remained stable, recording only approximately $38.5 million in liquidations, accounting for 0.2% of the market total. The report noted that the market crash was initially triggered by Trump's tariff remarks, followed by systemic failures and erroneous oracle data from certain exchanges (including Binance and some derivatives platforms), which led to cascading liquidations and asset de-pegging. BitMEX stated that its core infrastructure continued to operate normally under extreme load, with withdrawal functions unaffected. The report emphasized that the platform effectively avoided abnormal liquidations and systemic risks through mechanisms such as Auto-Deleveraging (ADL), multi-source fair price marking, and manual intervention. BitMEX pointed out that the incident exposed structural flaws in certain exchanges and reiterated that its risk engine and price index mechanisms are designed to ensure the platform's robust operation and the security of user assets.