Binance has confirmed that it has refunded $283 million to users affected by a recent wave of liquidations triggered by asset stripping during high market volatility. The compensation was issued after USDe, BNSOL and wBETH briefly lost their footing, leading to a cascade of liquidations across several trading products. According to Binance, the refund process has been completed within 24 hours.
Despite the chaos, the exchange said its core systems remained functional throughout. He attributed the disruption to overall market conditions rather than an internal technical failure.
What really happened on October 10
On October 10, a sudden stock market crash triggered widespread forced liquidations on several platforms. Binance said that This extreme volatility was the backdrop for deleveraging events involving three key assets: USDe, what is a synthetic dollar token, BNSOL, which follows Solana staked with liquid, and wBETH, what is a wrapped version of staked Aether.
Binance announced that it has paid $283 million in compensation to users due to asset unlinking issues in Binance Earn products.
The exchange pointed out that the market decline began before these assets were unbundled.#Binance pic.twitter.com/WFV9FdtAj7
– BadJoe (@Eat_Joe_) October 13, 2025
Binance announced that it has paid $283 million in compensation to users due to asset unlinking issues in Binance Earn products.Each of these briefly detached Since their expected values. Traders saw massive price swings, and in some cases, the tokens appeared to hit zero. Binance later clarified that some of these “zero price” events were due to visual display errors and not an actual drop in price to zero. Nevertheless, the impact on trading positions was real.
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Who was paid and how it was calculated
The $283 million payment covered users whose positions were liquidated while using one of the affected tokens as collateral on Binance’s margin, futures, or lending services. The stock exchange calculated the compensation by comparing THE clearance price has external market reference prices recorded at midnight UTC on the day after.
In addition to liquidations, Binance also acknowledged delays in internal transfers and the Earn product. buyouts. It promised automatic compensation within 72 hours for users affected by these issues and said these cases were under review separately.
A decision that speaks much more than money
The scale and speed of reimbursement attracted attention. Some market observers have noted that this type of rapid payment is rare. Although this decision clearly covered financial losses, some believe it also aimed to build user trust, especially in the wake of recent leadership changes and increased scrutiny of centralized exchanges.
Analysts noted that while $283 million is a significant sum, it still represents only a small portion of Binance’s total trading volume and reserves. This gesture nevertheless stood out as the repeated crises of recent months have tested trust in centralized platforms.
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What Binance is doing to avoid a repeat
To reduce the risk of similar issues in the future, Binance announced that it will include the buyback price in its price index calculations for certain assets. It also introduced minimum price thresholds for USDe, aimed at preventing major spreads during periods of market stress.
The platform also pledged continued monitoring and said it would report any suspicious activity related to the incident to regulators. This event highlighted how quickly liquidity issues can ripple through the system and put pressure on platforms to respond quickly and transparently.
Whether this episode restores long-term trust or raises more questions will depend on what happens next. Binance’s response was quick, but the stakes for getting it right will only increase from here.
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Key takeaways
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Binance has refunded $283 million to users affected by the October 10 depeg incident involving USDe, BNSOL, and wBETH.
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Binance issued compensation within 24 hours, covering margin, futures, and loan product liquidations.
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Some tokens appeared to reach zero due to display errors, but trading losses were real and triggered forced liquidations.
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Binance said the issue was due to the market and not a technical failure, and has since added price protections to reduce future risks.
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Analysts view the payment as a move to restore user confidence, especially as centralized exchanges face continued scrutiny.
The post Binance Pays $283 Million After Depeg Triggered Liquidations appeared first on 99Bitcoins.
