A number of customers on the platform have called for the Bitrue team to probe the circumstance and provide a clarification

A snag on the Bitrue Exchange has led to the liquidation of nearly all active XRP long positions held by customers. Tweet by one customer suggested the XRP price on Bitrue Exchange slumped to $0.001 and right away bounced back. The steep price decline erased virtually all active XRP long positions.

A number of customers on the platform have called for the Bitrue team to probe the circumstance and provide a clarification. The incidence stoked some negative views, raising issues around the trust that capital users have in the exchange. One customer denounced the latest incidence and expressed his resentment as hackers exploited the platform several times.

Bitrue exchange is yet to react to the complaints or make any declaration concerning the snag, at least on Twitter, as of now. The latest tweet by Bitrue was in regards to an evaluation asking users for their thesis concerning the next bull run.

Currently, XRP’s price is $0.471. Comparing this with the bottom price of $0.001 reported during the snag could have considerable effects for traders. One Bitrue customer shared an image of a message received from the exchange after liquidating his XRP position.

As per the message, his position was closed because his balance was less than the maintenance margin needed to hold the XRP-USD position. The customer joined others to seek a clarification and a feasible solution.

Bitrue lost nearly $23mln on April 14, 2023 due to a hack. The exchange promised to fully pay back customers impacted by the hack as a part of the solution in the aftermath of the exploit. Although as stated before, there has been no reaction yet by the exchange on the current complaints by users who may be anticipating a similar solution, knowing fully well that the snag is no fault of theirs.