Gate mistakenly credited Franklin stock dividend to BEN memecoin perp

vercel (@vercel) · Gate (@Gate)

The $0.33 per share Franklin Resources dividend was applied to the BENUSDT futures contract, which traded around $0.000585, about 560 times the price. Longs received a huge credit, shorts were liquidated en masse. Gate calls it an operational error due to the matching name, says about 200 accounts were affected, and states that it will cover user losses itself.

Facts

DefiantNews: after the scheduled dividend adjustment, 92 liquidation orders were recorded in the BENUSDT market on Gate. The $0.33 adjustment is about 560 times larger than the mark price a minute earlier. Under Gate rules, net shorts pay and net longs receive. [DefiantNews, September 30, 2026]
Trader matthewabides writes: a $1 thousand long received about $564 thousand, almost all shorts were liquidated within a minute, one account went to negative $1.46 million. [@matthewabides, September 30, 2026]
Gate support: at 16:00 UTC+8, while processing funding for the BEN contract under an announcement from two days ago, an operational error occurred due to a name conflict, affecting about 200 accounts. The issue was fixed within minutes, users will not incur losses, Gate will fully cover the impact.
According to data cited by wublockchain12, around 08:00 UTC about 4221 positions across 889 contracts were liquidated on Gate, nominally about $2.59 million. [X, September 30, 2026]

Pending:

Exactly how Gate will restore balances: whether credited profit will be reversed for those who managed to withdraw, and how liquidated shorts will be compensated.

post from telegram channel debilnik @DISCIPLINE.DISCIPLINE.DISCIPLINE. · post from telegram channel t2m crypto · post from telegram channel AGGREGATOR