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Binance has announced a comprehensive review of the impact from the USDE, BNSOL, and WBETH depeg event. The cryptocurrency exchange said it will determine appropriate compensation and is working to enhance risk management controls to prevent future incidents.
According to Binance’s official website announcement, the recent price depeg involving USDE, BNSOL, and WBETH led to forced liquidations affecting several users' asset positions. The statement emphasized that Binance acknowledges the seriousness of the situation and is prioritizing transparency and corrective action in response. The company also expressed gratitude to its community for their "patience and understanding" during this review process.
In an October 11 post on its website, Binance said that its team is "conducting a thorough review of the impacted users, the details surrounding these liquidations, and the appropriate compensation measures." This indicates that Binance is assessing each affected account and liquidation event individually to ensure accuracy in any future restitution. Once this analysis is complete, Binance confirmed it will communicate compensation plans and eligibility criteria directly to affected customers.
