Which companies just had a verified incident, who lends to them and who owns them. Every claim carries its evidence level and its source. How we decide what is confirmed
Binance
crypto exchange · Global · Binance
During the 10 Oct 2025 crypto crash, Binance acknowledged brief module glitches after 21:18 UTC and depegs of USDe, wBETH and BNSOL on its platform. It paid over 328M USD in compensation while blaming the macro shock.
- First disruption
- Oct 10 21:18 UTC
- First public signal
- Oct 10 (user reports during liquidation cascade)
- Acknowledged
- Oct 11
- Restored
- Oct 10
- Duration
- not established
- DFX first recorded
- Nov 5 14:58 UTC
What was restricted
Delays and display issues, brief module glitches including transfers; users liquidated against de-pegged collateral.
Financial impact: Binance paid about 283M USD initially and over 328M USD by 22 Oct in compensation (confirmed by Binance).
Cause, kept in separate layers
- What the institution said
- Heavy market activity; after 21:18 UTC some platform modules briefly had technical glitches; USDe, wBETH and BNSOL de-pegged on Binance
- DFX classification
- Mixed or cascading (cyber: ruled out)
- Analytical hypothesis (not established)
- Macro shock (US China tariff threat) triggered a 19B USD liquidation cascade; exchange module glitches and oracle depegs amplified losses.
- Wording used
- heavy market activity
- Conflicting reports
- Binance says core matching engine and APIs were stable; critics say outage amplified the crash. Also reported issues at Coinbase and Robinhood during the event, not separately verified.
Dependencies
A dependency is a documented relationship. It is not evidence that the provider was compromised.
- Downstream: Hyperliquid and other venues: over 19B USD market-wide liquidations (plausible)
Evidence
- Decrypt · 2025-10-12
- Yahoo Finance · 2025-10
- BeInCrypto · 2025-10