Opinion: Exchange repayments after abnormal transactions may not be best practice

According to AMBCrypto, Bitcoin derivative provider Deribit's BTC permanent swap contract has recently failed. Deribit officially claims that it will not roll back transactions. Although the Deribit insurance fund will not be used to make up for these losses, the platform compensates all The affected account, Deribit COO Marius Jansen, said that about 150 BTC were repaid in total. However, Three Arrows Capital CEO Su Zhu and well-known researcher Hasu said repayments may not be the best approach. In Deribit's latest blog post, the two wrote, "In the future, there may be more reasons for unexpected trading anomalies, and the reason may not be the direct error of the exchange. Therefore, repayment may not be the best practice. As a result, exchanges must advance their risk management and have multiple tools to deal with these uncertainties in the most effective and best way for the interests of their customers. ”Rollbacks are essentially transaction reversals implemented by the exchange in exceptional circumstances. In addition, trading during this time will be erased from the trading history. The article states that traditional markets have not achieved standardized regulation. In the absence of such standardization in the crypto market, exchanges are compensated from their funds, rather than violating the ultimate principles of trade. The article states that the growth and entry of new market participants will undeniably lead to abnormal and erroneous trading activities, adding that repayment may not be the best idea.