Cryptocurrency Flash: Binance launches a compensation plan for users affected by crashes

After -sales service. Global cryptocurrency exchange Binance faced a serious crisis After the crash of cryptocurrencies last weekend . This event has led to a temporary stop of several assets, while other tokens have undergone extreme price fluctuations. In response, the exchange paid the victims of the users of $ 283 million. Here’s an update.

The key points of this article:

• Binance paid users compensation of $ 283 million after devastating collapse cryptocurrency that caused the depletion of several assets.
• Technical adjustments were announced to enhance the stability of Binance systems and prevent future volatility incidents.

Three cryptooroquits are temporarily exhausted through a storm on Friday night So, three assets, related to products of yield Binance (Binance Earn), lost temporarily their parity with the target price on the platform:

• USDE (synthetic dollar Ethena) whose price is on binance It fell lower $ 0.66 .
• BNSOL (Liquid Solana token for steaking, released by binance).
• Wbth (Liquid Ethereum steak token, binance released).

These incidents occurred after a sharp fall in the market On the night of Friday to Saturday, and Binance wanted to point out that this “extreme fall in the market” happened to collapse. his assets, By refuting the idea that a depugue has caused a total collapse . Indeed, some rumors This weekend was spreading on social networks, indicated the responsibility of the exchanges for the overall course of events.

Answer from World leader:

“We are aware of market speculation about the causes of this event, some of which are focused on the role of the Binance platform. We have conducted a thorough analysis and we can now confirm that during the event the basic mechanisms of futures and spot comparisons, as well as the API trade, remained able to work. According to the data, the volume of forced liquidations treated with a Binance platform was a relatively small proportion of the total volume of bidding, which indicates that this volatility was mainly due to the general market conditions. “

Press release-Source: Binance

The CEO of Ethena Labs stated in the press that it would be inaccurate to talk about the overall fall of the USDE, since the price did not suffer any significant deviations on the main liquidity pools.

Meanwhile other tokens such as Atom and Iotx have undergone a sharp and instant fall in prices. Binance explained these fluctuations execution of historical limit orders some of which date 2019, which remained open and were performed during a lack of liquidity for purchases. In addition, the problem with decimal reflection led to the ITX/USDT pair shock at $ 0 In the user interface, which is an anomaly, which platform plans to correct.

Binance teams announce compensation – Source: Account X

In response to these events, the Binance teams published a statement on Sunday afternoon, which announced the correction of the situation. In general $ 283 million was paid as compensation futures, marginal and credit users who kept the relevant assets (USDE, Bnsol, Wbth) as a pledge and which was influenced by liquidation between 21:36 and 22:16 UTC .

It also includes users with confirmed losses Due to problems with internal transfers or ransom EARN. The platform assured that it continues to consider unresolved cases. Finally, to prevent future incidents, binance has announced technical adjustments for the affected markets.

Thus will be introduced significant improvements to stabilize depreciation at risk of redemption prices and a soft lower price for USDE. The platform also seeks optimize your user interface and increase the frequency of risk control To ensure better stability .

Faced with extraordinary volatility on October 10, 2025, Binance quickly took measures, compensating for the victims of the incidents to users a loss of $ 283 million, recognizing the impact of failures on their platform. Is the end of the storm on the cryptor on Monday morning? Our technical analysis begins to answer this question.

Source: Journalducoin.com