Binance has outlined the terms for compensating users who incurred losses during the recent depeg event involving USDE, BNSOL, and WBETH. The exchange is working to resolve the issue quickly, with approximately $283 million already reimbursed.
Who is Eligible for Compensation?
Compensation is specifically targeted at users whose losses were directly caused by the abnormal market behavior, not routine market moves.
- Covered Accounts: Users with Futures, Margin, and Loan accounts that utilized USDE, BNSOL, or WBETH as collateral.
- Incident Window: Eligibility is primarily restricted to losses that occurred during the 40-minute window from 2025-10-10, 21:36–22:16 UTC. Cases outside this period will be reviewed individually.
- Other Losses: Verified losses resulting from internal transfer delays and delayed Earn redemptions during the incident will also be compensated.
How Compensation Will Be Calculated and Paid
Binance is reviewing trades during the incident window to determine the appropriate compensation amount.
- Calculation: Payouts will equal the difference between a user's liquidation price (the price at which their position was force-closed) and a set market price established at 2025-10-11 00:00 UTC.
- Index Adjustments: For BNSOL, WBETH, and USDE, the compensation calculation will incorporate redemption-based weights. USDE also has an additional minimum price floor applied.
- Payout Timeline: Eligible users can expect to receive automatic credits to their accounts, with a target completion time of within 72 hours.
Note: Binance confirmed that its core trading engines and APIs remained operational, but brief module glitches and abnormal spot prices (due to trades hitting stale limit orders and a UI display error) led to the liquidations. However, the exchange's Futures mark-price logic is designed to filter out these abnormal ticks for liquidation purposes.
October 2025, Cryptoniteuae