According to a preliminary report, Binance will compensate for the loss of $283 million caused by the loss of BNSOL, WBETH, and USDE pegs.
The exchange said in a statement that global macroeconomic trends from 23:50 on October 10, 2025 to 1:00 a.m. on October 11, 2025 (UTC+3) caused extreme volatility in the cryptocurrency market.
It is stated that during this period, both institutional and retail investors started selling heavily, which caused the market to plummet.
Binance announced that during this period, its futures and spot matching engine, as well as API transactions, are operating smoothly, and volatility is primarily market-related. However, after 00:18, we observed a brief technical glitch in some modules, causing some assets to lose their price stability.
The exchange said it adheres to the principle of transparency and users affected by DEPEG will be compensated for their losses within 24 hours.
As part of its user-focused approach, Binance has taken two main steps.
Depeg Coverage for Earn Products: Due to depegs that occur in some Earn products such as USDE, BNSOL, and WBETH, users who use these assets as collateral and experience liquidation are fully compensated for their losses. The compensation was distributed in two phases, totaling approximately $283 million.
Delays in internal transfers and earnings: Compensation is also provided to users who suffer losses due to delays in short-term transfers and withdrawals during extreme market fluctuations.
The exchange also provided information regarding excessive low prices seen in some spot pairs. It was explained that limit orders from 2019 were triggered during an oversold wave, causing a momentary price drop. It was also explained that some pairs (such as IOTX/USDT) had visual zero price errors. This error was caused by the user interface and did not affect transactional data.
*This is not investment advice.
