Binance’s decision to compensate those affected by problems during the October 10 market crash has received support, but has also drawn criticism. Some users applaud what they consider an act of commitment, while others call for a boycott.
Binance acknowledged that as of 21:18 (UTC) on October 10, some modules of its platform suffered brief technical failures and that certain assets faced unbinding issues. The company assured, as reported by CriptoNoticias, that affected users were compensated in less than 24 hourswith a total of 283 million dollars.
In the last hours, several communities celebrated this decision. From Ethena Labs, a company specialized in infrastructure for DeFi, stood out: «We want to congratulate the speed with which Binance has addressed the losses on its platform. The size of the compensation is unprecedented. “This is the first step in regaining the trust of cryptocurrency users, which will be rebuilt over time.”
The firm also assured that the alliance between both companies “remains solid and is not affected by the events of the weekend,” and that they will work together on improvements for risk management and the optimization of their oracles.
For his part, a cryptocurrency exchange enthusiast pointed out who “take responsibility, compensate victims and confront crises. “While some platforms disappeared or took advantage of the chaos, Binance stood tall, showing what leadership and accountability means,” he commented.
Another comment, from the trader known as CoinQuest, stood out that compensation serves as a clear answer “to those who maintain that Binance is a scam”: “It is a statement: ‘Yes, we were wrong and we are fixing it’… This is accountability.”
In addition, HE projection the human approach to measurementarguing that it greatly contributed to calming people’s stress: «Binance’s compensation actions in the face of this extreme situation have alleviated significant financial losses and mental stress of those affected. Good job”.
Others summarized the community reaction with messages much more direct: «USD 283 million in compensation. This is how Binance supports its customers. When extreme volatility hit on October 10, Binance blamed no one – it acted quickly. “Full coverage for those affected, transparent communication and more solid systems for the future.”
However, not everyone shared these positive reactions. There are those who cataloged to the exchange as “market manipulators” for technical failures.
Along these lines, the trader known as ScottLEOWarrior he was surprised about the rise of BNB during the market crash. «I’m a big BNB holder, but I honestly think CZ and Binance are totally corrupt… The whole market is crashing and look at this. “They don’t even try to hide the manipulation,” he said.
In this sense, Binance compensation is positioned as a positive measure for many users. However, others They maintain criticism of the management risk and trust in the platform.