Binance Reimburses $283 Million Following October 10th Market Crash

Binance has issued compensation to affected users amounting to approximately $283 million in response to the market crash triggered by global economic events on October 10th. The company attributed the crash, which resulted in significant price fluctuations and liquidations, primarily to a temporary technical glitch. Binance’s statement clarified that its platform played only a minor role in the overall market decline and that customers who experienced losses through collateral liquidations were fully reimbursed. Affected users experiencing delays with Earn product redemptions will also receive refunds.