The October 10th crypto crash, which saw over $20 billion in perpetual futures positions liquidated, has ignited debates about legal responsibility and accountability. While some users have accused exchanges like Binance of failing to adequately handle the crisis, the lack of clear regulations presents a challenging legal landscape. The recent turmoil highlights how crypto platforms operate differently than traditional stock markets. Unlike regulated securities exchanges, crypto venues can withdraw liquidity, cut profitable positions, and utilize arbitration clauses that limit user recourse unless they agree to them. This raises concerns about fairness in this nascent market environment.