Binance to Compensate Users After Wrapped Token Crash
🚨 wBETH, BNSOL & USDe prices crashed up to 88% as Binance’s infrastructure failed under heavy volatility, leaving market makers unable to stabilize prices.
🔹 Binance will review accounts individually and compensate users for losses directly linked to platform issues (not market moves/unrealized gains).
🔹 wBETH plunged to $430 while ETH traded above $3,800. BNSOL and USDe also dropped sharply.
🔹 Cause: liquidity vacuum as market makers couldn’t access Binance during volatility.
🔹 Fix: Binance now uses conversion-ratio pricing for wrapped assets to ensure stable valuations during stress.