Investigate Binance over the 10 October 2025 crypto crash
The issue
On October 10, 2025, the cryptocurrency world was shaken by a devastating crash that liquidated 1.6 million traders worldwide, wiping out billions of dollars in assets and savings overnight. This catastrophic event has left countless individuals grappling with financial ruin and unanswered questions about the stability and integrity of the platforms they trust for trading and investment, particularly Binance, one of the largest cryptocurrency exchanges globally.
The scale of this liquidation raises significant concerns about the operational integrity and transparency of Binance. How did such a massive liquidation occur within mere hours? Were there systemic vulnerabilities, manipulations, or oversight failures? It is crucial to understand the underlying causes of this event to prevent future occurrences and protect the interests of investors.
Independent analysis points directly to failures within Binance's own systems. During the crash, the stablecoin USDe was priced around $0.65 on Binance while it remained at $1.00 on every other exchange and stayed redeemable at par — meaning the collapse existed only on Binance. Binance valued user collateral using its own internal order book rather than independent price references, creating a self-reinforcing loop that turned a relatively small sell-off into roughly $19.3 billion in forced liquidations. Most troubling of all, Binance had publicly announced this exact pricing flaw on October 6, 2025 — four days before the crash — and scheduled a fix for October 14. The crash struck before that fix was deployed.
Currently, affected traders are in a state of financial uncertainty, with life savings wiped out and futures jeopardized. As the financial ecosystem braces for aftershocks, we demand a thorough and independent investigation into Binance's role in this crash. This investigation should be conducted by a coalition of international financial regulatory authorities to ensure impartiality and thoroughness.
We specifically call for:
A full, independent investigation into the cause of the October 10, 2025 liquidations and Binance's role in them.
Complete transparency — Binance must disclose the pricing, oracle, and liquidation data for the event so it can be independently verified.
Fair and full compensation for every trader harmed by the failure, not discretionary goodwill payments.
Stronger, enforceable standards for how exchanges price collateral and execute liquidations, so this can never happen again.
Binance is the world's largest cryptocurrency exchange. Millions of ordinary people trust it with their money. When 1.6 million of them are wiped out in hours by a failure the exchange itself had already identified, that demands answers — not silence.
Sign and share. We deserve transparency, accountability, and protection.
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The issue
On October 10, 2025, the cryptocurrency world was shaken by a devastating crash that liquidated 1.6 million traders worldwide, wiping out billions of dollars in assets and savings overnight. This catastrophic event has left countless individuals grappling with financial ruin and unanswered questions about the stability and integrity of the platforms they trust for trading and investment, particularly Binance, one of the largest cryptocurrency exchanges globally.
The scale of this liquidation raises significant concerns about the operational integrity and transparency of Binance. How did such a massive liquidation occur within mere hours? Were there systemic vulnerabilities, manipulations, or oversight failures? It is crucial to understand the underlying causes of this event to prevent future occurrences and protect the interests of investors.
Independent analysis points directly to failures within Binance's own systems. During the crash, the stablecoin USDe was priced around $0.65 on Binance while it remained at $1.00 on every other exchange and stayed redeemable at par — meaning the collapse existed only on Binance. Binance valued user collateral using its own internal order book rather than independent price references, creating a self-reinforcing loop that turned a relatively small sell-off into roughly $19.3 billion in forced liquidations. Most troubling of all, Binance had publicly announced this exact pricing flaw on October 6, 2025 — four days before the crash — and scheduled a fix for October 14. The crash struck before that fix was deployed.
Currently, affected traders are in a state of financial uncertainty, with life savings wiped out and futures jeopardized. As the financial ecosystem braces for aftershocks, we demand a thorough and independent investigation into Binance's role in this crash. This investigation should be conducted by a coalition of international financial regulatory authorities to ensure impartiality and thoroughness.
We specifically call for:
A full, independent investigation into the cause of the October 10, 2025 liquidations and Binance's role in them.
Complete transparency — Binance must disclose the pricing, oracle, and liquidation data for the event so it can be independently verified.
Fair and full compensation for every trader harmed by the failure, not discretionary goodwill payments.
Stronger, enforceable standards for how exchanges price collateral and execute liquidations, so this can never happen again.
Binance is the world's largest cryptocurrency exchange. Millions of ordinary people trust it with their money. When 1.6 million of them are wiped out in hours by a failure the exchange itself had already identified, that demands answers — not silence.
Sign and share. We deserve transparency, accountability, and protection.
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Petition created on 26 June 2026