JuCoin announces compensation of US$ 10 million after contract system failure
On August 1, 2025, at 4:06 PM, the cryptocurrency exchange JuCoin released a statement regarding a failure in its contract system that caused a short-lived anomaly. The incident resulted in a price spike in the ETHUSDT perpetual contract.
During the failure, some users achieved gains of approximately 2.87 million USDT, while others suffered losses of about 7.30 million USDT.
In response, JuCoin announced that it will fully compensate all losses caused by the incident, with a total estimated amount of 10 million USDT. The company stated that the funds gained abnormally by users will not be tracked or recovered.
The platform promised that the compensation will be completed by August 8.
