Vela Derivative cryptocurrency exchange scammed its user

Vela is a derivative cryptocurrency exchange that recently came to light for not giving the user his profit. He started his ETH / USD Perpetual long x29.9 at $1431, but the exchange forcefully closed his long at $1999.99, which gave him a whopping 1543.11 percent profit. 

So yes, while he did not closed the trade himself, he should have been given the amazing profits. Right? Well, Vela exchange only gave him back his collateral because that would be fair for both user and exchange. 

He then posted about this on his twitter account to make them pay his profits. This got their attention and in their official discord, he did got a reply, “we are working on all options to get this fixed, if your first reaction is to go to Twitter and fun, you’re not being helpful. Like I mentioned, collateral is the #1 priority to get back to all traders. Everything else comes after. I know it sucks to not get profits back, but profits wouldn’t matter if we can’t get collateral back first.”

This got closed by the exchange and they are only giving back my collateral bc that is “fair” pic.twitter.com/T0zlCIxrnl

— Lil b 🐧 (@BasedgodCrypto) April 13, 2023

Funny thing, Vela launched just few days back with great pomp and show. Well, you know what they say “grand opening, grand closing.”