Cryptocurrency exchange Bybit announced that the abnormal price deviations seen in SERAPHUSDT and some other futures contracts during the market volatility experienced on October 6, 2025, were not due to a technical error, but rather due to a decrease in liquidity.
According to the company's official announcement, the system operated normally during the surge that occurred around 11:23 PM, but the sudden drop in market depth created temporary differences between spot and derivative market prices. This led to some users experiencing off-market price fluctuations in their trades.
Related News: Watch Out: Some Altcoins in the Market Are Currently Experiencing Major and Sudden Pump-and-Dump Schemes
Bybit urged affected users to contact their customer support team or personal customer representatives within 14 business days. The company stated that each complaint will be reviewed on a “case-by-case basis” and that resolution will be handled on an individual basis.
Bybit's statement stated that the 24/7 multilingual support team can be contacted via live chat or web form.
On the other hand, 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.