Binance Covers $283 Million Loss After Wrapped Token Crash
Binance has compensated users $283 million to restore stability after a period of market volatility.
This comes after a crash involving the depegging and wrapping of several synthetic tokens, including USDe, BNSOL, and WBETH, which temporarily lost their expected values.
A display glitch also showed some token prices as "0" on users' screens, which Binance explained was due to a recent update.
The incident took place on Friday, October 10, 2025, amidst a larger sell-off in the crypto market.
Binance's efforts aimed to protect user funds and handle losses during the market volatility.
Author's summary: Binance compensates $283M to users after token crash.