Binance to Compensate Users After Crypto Market Crash & Platform Issues

Binance has announced compensation for users who suffered losses due to the recent crypto market crash and platform disruptions. Several wrapped tokens, including USDe, BNSOL, and WBETH experienced sharp price depegging during a significant selloff. This incident was exacerbated by trading delays and reduced performance on Binance’s platform, leading to substantial user losses. Binance has confirmed that compensation will be provided for users who were impacted due to these technical issues during the market crash. Affected users include those who used USDe, WBETH, or BNSOL as collateral between 21:36 and 22:16 UTC on October 10th. The payout will reflect the difference between the liquidation price and the market price at 00:00 UTC on October 11th.