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Backpack: Users who made profits when their positions were previously disrupted can dispose of their assets on their own, and users who suffered losses will be fully compensated

By: odaily.com|2025/07/07 16:36:31
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Odaily News According to official news, Backpack issued an announcement regarding the recharge jam and contract position confusion on July 3, saying: A total of 5,000 users traded on that day. When the positions were confused, about 500 users made profits, and 500 users suffered losses due to this incident. After rolling back the code, we decided that users who made profits can dispose of their assets on their own, and users who lost money will be compensated in full. As of the time of posting, we have received a total of 410 compensation requests, 242 requests have been processed, and a total of US$70,000 in compensation has been issued. We expect the total compensation amount to be around US$200,000. We will compensate all users who participated in transactions on that day with double points.
In addition, Backpack CEO Armani wrote: “Our exchange architecture is essentially a private, permissioned blockchain—designed from scratch for performance, verifiability, transparency, and efficiency. We did not fork any existing technology, but developed it from scratch.”

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