The sudden deletion of a market maker’s post accusing Binance of trading malfunctions during the October 10 crash has ignited widespread scrutiny and debate across the crypto industry.
The removal has put Binance under the microscope, as users question whether the exchange sought to suppress criticism or influence the narrative.
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Deleted Binance Criticism Sparks Cover-Up Fears
For context, following President Trump’s tariff escalation, the crypto market plunged, wiping out billions in value. Amid this, Binance, the world’s largest exchange, faced widespread outrage. Users reported serious platform failures — including frozen accounts, halted stop-losses, and more.
The exchange attributed the disruption to intense trading activity. However, many traders accused Binance of profiting during the chaos.
Notably, other exchanges like Coinbase and Robinhood also experienced outages. In response to the backlash, Binance announced a $400 million recovery initiative on October 14.
However, earlier this week, trader GammaPure claimed that he and many other market makers lost millions as Binance failed to execute automated orders during the market crash. The trader claimed to possess evidence as well.
Nonetheless, the post was soon deleted. This sudden disappearance fueled uncertainty in the industry. Some speculated that Binance may have applied pressure, while others suspected a private arrangement motivated the removal.
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“Original post by @GammaPure has been deleted Interesting. Any best guesses why? Some backroom deals going on?” an analyst questioned.
Why did GammaPure Delete The X post?
Addressing the rumors, GammaPure later explained on X that he deleted his post after verifying new technical data from Binance. He said he initially blamed the exchange for API order failures and posted about it publicly, gaining support from other affected users.
However, after Binance’s technical team revealed logs that showed no system errors, he deleted the posts.
“Yesterday, I created a group chat with some colleagues from Binance, marking the first time they had a full and formal conversation with me. My main argument was that ‘API orders failed, and reduce-only orders returned a 503 error.’ But Binance’s technical team provided complete logs during our meeting, which showed that the reduce-only orders never encountered a 503 error. An investment firm connected to my friend also joined the investigation. The main account management team and their responsible staff reviewed the global logs and confirmed that there was no 503 error for reduce-only orders,” the post read.
As for the payment speculations, the trader clarified that he only received a standard one-time compensation from Binance’s “Together Initiative,” not any secret settlement or hush payment. He commented that,
“Some followers said Binance ‘paid me to keep quiet.’ The truth is: only those who met the criteria and hadn’t filed a claim received payments. Those with claims are reviewed case by case to see if it’s the platform’s responsibility before deciding on compensation.”
GammaPure added that he decided to step back, not out of compromise, but because he could no longer confirm what information was accurate and didn’t want to spread misinformation.
Source: https://beincrypto.com/binance-trading-glitch-allegations-post-disappears/