Cryptocurrency exchange Bybit announced that the abnormal price fluctuations seen in SERAPHUSDT and some other futures contracts during the market volatility experienced on October 6, 2025 were not due to technical errors, but rather due to reduced liquidity.
According to the company's official statement, the system operated normally during the spike that occurred around 11:23 p.m., but a sudden drop in market depth caused a temporary difference in prices between the spot market and the derivatives market. This caused some users to experience off-market price fluctuations on their trades.
Bybit urged affected users to contact their customer support team or personal account representative within 14 business days. The company said each complaint will be considered on a “case-by-case” basis and resolution will be handled on a case-by-case basis.
Bybit's statement said its 24/7 multilingual support team can be contacted via live chat or web form.
Meanwhile, similar pump-dump style price movements were observed in other altcoin contracts such as RFC and GROK during the same wave.
*This is not investment advice.
