Binance Pays $283 Million After Price Feed Glitch
Binance paid $283 million following a price feed malfunction that incorrectly impacted a stablecoin.
Crypto exchange Binance paid out $283 million following an incident where its internal price feed broke a stablecoin, according to Startup Fortune. The event unfolded after the exchange's data feed malfunctioned, causing disruption to a stablecoin that did not actually break in broader markets.
Incident Overview
Instant Telegram notifications for large on-chain moves.
The payout addresses the fallout from the faulty feed, which triggered automated reactions and valuation discrepancies on the platform.
Key facts
- Binance paid $283 million following the incident
- The payout stems from a broken price feed
- The affected stablecoin never actually broke on broader markets
Source: news.google.com
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