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【Important】Compensation Plan for Abnormal Price Fluctuations of TUTUSDT, 龙虾USDT(LOBSTER), and BICOUSDT
2026-08-10 11:2251555
Bitget is aware of the impact caused by the recent abnormal price volatility involving TUTUSDT, 龙虾USDT（LOBSTER）and BICOUSDT.
Following the incident, Bitget immediately launched the highest-priority internal review, activated the relevant risk-control measures and began verifying affected accounts. A compensation plan has been established for eligible users, alongside improvements to the platform’s price-protection and risk-management mechanisms.
The incident details, compensation arrangements and follow-up measures are outlined below.
At approximately 07:12 on August 9, 2026 (UTC), TUTUSDT, 龙虾USDT（LOBSTER) and BICOUSDT experienced abnormal price movements. According to the initial review, liquidity in the affected futures markets became severely imbalanced. This caused mark prices to temporarily diverge from broader market levels and triggered liquidation of some short positions. Following a review of the relevant accounts and trading activity, Bitget has established the following compensation plan for eligible affected users.
Compensation Plan:
1.Affected Trading Pairs and Timeframes
| Affected Trading Pairs | Affected Time (UTC) |
| TUTUSDT | 07:10:37–07:13:50 |
| 龙虾USDT（LOBSTER） | 07:12:15–07:15:45 |
| BICOUSDT | 07:12:46–07:15:30 |
2.Eligibility
The compensation plan covers:
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Users whose short positions in the affected futures were forcibly liquidated due to abnormal mark-price movements during the corresponding periods.
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Users with an eligible short-position liquidation record in any of the three futures: TUTUSDT, 龙虾USDT（LOBSTER） or BICOUSDT.
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Users who violated Bitget's Terms of Use or applicable laws, or who actively opened new positions during the abnormal price movements, are excluded from the compensation plan.
3.Calculation
The compensation benchmark is calculated based on the fair market price at 07:00 (UTC) on August 9, which was approximately 10 minutes before the abnormal fluctuations in the three futures.
| Account Type | Compensation Scheme | Calculation Formula | Notes |
| Unified Account (UTA) | Equity loss under UTA cross-margin, benchmarked at 07:00 equity (UTC) | Compensation = Equity at 07:00:00 − Equity at 08:00:00 (UTC) | 1. Equity = Account Balance + Unrealized PnL of all open positions (TUTUSDT calculated at $0.21). 2. Non-USDT assets converted to USDT at the 07:00 index price at full value, with no discount applied (UTC). 3. Transfers into/out of the UTA trading account between 07:00 and 08:00 (UTC) will be filtered to ensure accuracy. |
| Classic Account — Cross-Margin | Equity loss under cross-margin, benchmarked at 07:00 balance (UTC) | Compensation = Equity at 07:00:00 (UTC) | 1. Equity = Account Balance + Unrealized PnL of all open positions (TUTUSDT calculated at $0.21). 2. Non-USDT assets converted to USDT at the 07:00 (UTA) index price at full value, with no discount applied. |
| Classic Account — Isolated-Margin | Loss from liquidated isolated positions | Compensation = Liquidated Position Size × (Takeover Price − Compensation Price) | Reference prices used: TUTUSDT: $0.21 龙虾USDT（LOBSTER): $0.027 BICOUSDT: $0.0897 |
4.Compensation Method and Timeline
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Eligible users are required to contact Bitget Customer Support or their VIP Account Manager to complete registration and verification. Once the final compensation amount is confirmed, it will be distributed in USDT.
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For accounts involving Unified Trading Accounts (UTA) or Classic Accounts with joint margin, where non-USDT assets used as margin were liquidated, these assets will be converted into USDT based on the index price from the equity snapshot at 7:00 (UTC). This converted value will serve as the basis for calculating the compensation amount.
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The compensation process has been initiated. Bitget will complete the distribution of compensation within two business days after the registration and verification process.
Risk Management Mechanism Upgrade
In response to the potential risks exposed by this incident, Bitget will further improve the platform's risk management system, focusing on the following measures:
1.Strengthen Risk Control for Abnormal Trading and Concentrated Positions Enhance monitoring and identification of concentrated positions, abnormal trading, and suspected price manipulation. Strict measures will be taken against violations such as market price manipulation.
2.Strengthen Full Lifecycle Management of High-Risk Trading Pairs Further raise the listing evaluation standards for high-risk coins and trading pairs, and conduct continuous risk screening and liquidity assessments for existing trading pairs. Trading pairs with insufficient liquidity or consistently substandard risk indicators will be adjusted or delisted in batches based on assessment results.
3.Improve Dynamic Risk Parameter Management in Extreme Market Conditions Enhance dynamic monitoring capabilities for abnormal price and liquidity fluctuations. Key risk parameters such as maximum leverage and total position limits will be dynamically adjusted according to market risk levels to enhance risk control capabilities during extreme market conditions.
4.Optimize Mark Price and Liquidation Mechanisms Continuously improve the mark price pricing mechanism and introduce dynamic price protection mechanisms for abnormal fluctuation scenarios to reduce the risk of abnormal mark price deviations during extreme market conditions, enhancing the stability and reliability of the pricing mechanism. Meanwhile, the risk ratio model for Delta Neutral strategy modes will be further optimized to improve the rationality and stability of the liquidation mechanism during extreme market conditions.
Bitget will continue collecting feedback from affected users and applying the findings from this incident to strengthen market monitoring, price protection, and risk management across the platform. Users with questions regarding the compensation plan may contact Bitget Customer Support or their designated account manager for assistance. Bitget's ethos is to always put users' interests first. In the face of severe market volatility, transparency remains key. The compensation plan aligns with our adherence to providing a fair trading environment.
Bitget Team
Disclaimer
This announcement serves as an explanation of the handling of this incident and does not constitute an admission of any liability or obligation by Bitget. Relevant compensation arrangements will be handled on a case-by-case basis, according to platform records and the Terms of Use.
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