Synthetix founder: SNX stakers lost approximately $2 million due to abnormal TRB fluctuations

Kain.eth, the founder of Synthetix, stated on social media that SNX stakers lost about $2 million due to today's abnormal TRB price fluctuations. Kain.eth explained that TRB had an original limit of $250,000 for open contracts on Synthetix, but as its price rose over the past few months, this limit had ballooned to $12.5 million. It should have been adjusted, but risk control was not strict enough. With the surge in TRB prices today, several short positions were opened, but due to the discrepancy between spot prices and contract prices, arbitrage was out of balance. This was a lesson for Synthetix.