Backpack halted trading for scheduled maintenance at 10 a.m. UTC on July 3 and reopened two hours later, but the restart triggered account errors that forced CEO Armani Ferrante to promise reviews and compensation.
Backpack had warned users on X that the platform would go offline at 10 a.m., enter post-only mode at noon, and resume full trading at 12:10 p.m. The post-only window lets customers place or cancel maker orders but blocks taker activity.
When spot and perpetual markets came back online, several users reported abnormal balance changes and order reversals.
A Brazil-based trader, identified as Defi Remora, wrote that a $104,000 withdrawal request submitted the previous night was returned to his account in the form of 891 Solana (SOL) after the downtime.
The exchange simultaneously expanded his margin debit from 31,000 USDT to 111,000 USDT, leaving him to unwind the position manually at an estimated cost of $300 to $400.
Chinese user Hebi reported in a separate X thread that long positions flipped to short positions and that some holdings disappeared without a trace on the ledger.
Hebi said no audit trail appeared in the account history and that the errors coincided with…
