Binance Distributes $283M to Affected Users
Binance has reimbursed users impacted by the market turmoil on October 10, distributing $283 million in compensation.
The compensation primarily covered losses tied to de-pegged assets, including USDE, BNSOL, and WBETH, which were affected by heavy institutional and retail selling.
- De-pegging occurred between 20:50 and 22:00 UTC on October 10.
- Prices bottomed between 21:20 and 21:21 UTC.
- Severe de-pegs started after 21:36 UTC.
Binance completed the compensation within 24 hours after the extreme volatility triggered widespread sell-offs and collateral de-pegs.
Binance announced Sunday that it had allocated about $283 million in compensation to users affected by market volatility and technical issues.
Author's summary: Binance reimburses users with $283M after market turmoil.
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