According to @aliez_ren's analysis, the Gate liquidation event might have been caused by confusion between BEN stock and BEN perpetual contracts during the dividend settlement process. Gate originally intended to distribute a dividend of $0.000585 per share for BEN stock but seemingly applied the $0.33 per share dividend standard to BEN perpetual contracts. Since perpetual contracts have a bidirectional settlement mechanism for funding rates, the related fees may have been charged to some short positions, leading to a significant reduction in account margins and triggering a chain of liquidations. Data shows that around 08:00:01 UTC (16:00 UTC+8) on September 30, Gate liquidated approximately 4,221 positions involving 889 contracts, with a nominal value of about $2.59 million. Gate KOC Lead Godot responded, stating that the platform encountered an error due to naming confusion when processing BEN contract funding rates at 16:00 (UTC+8) today, as per the announcement two days ago. The issue affected around 200 accounts, but the platform quickly identified and resolved the problem within minutes. The user balance display issues caused by this are being gradually restored, and users will not bear any losses. Gate will fully cover the related losses. https://(wublock123.com)/news/gate-koc-lead-says-ben-contract-fee-affected-200-accounts-will-cover-69290