Binance to Compensate Users Who Bought AEUR Stablecoin During Surge
Binance has announced that it will create a compensation plan for users who purchased the Euro-pegged AEUR stablecoin during a recent 200% surge in value. The sudden increase in price was caused by a misunderstanding among certain Binance traders who did not realize that AEUR is a stablecoin.
Surge in Price for AEUR Stablecoin
The AEUR stablecoin, issued by Anchored Coins, experienced a 200% surge in price shortly after its listing on the spot market. It reached a peak of $3.25, far exceeding its expected value of around $1.07.
Trading Halt and Compensation Plan
In response to the sudden surge, Binance halted trading for several trading pairs involving AEUR. The exchange explained that eligible users who bought AEUR between specific times and were unable to sell them will receive compensation in the form of USDT token vouchers by December 9.
Caution Against Scammers
Anchored Coins, the issuer of AEUR, warned the community about potential scammers posing as them on social media. They advised users to be cautious and not disclose their personal wallet addresses.
Hot Take: Binance Addresses Surge in AEUR Stablecoin Value with Compensation Plan
Binance has taken steps to address the surge in value of the AEUR stablecoin by offering compensation to affected users. The exchange recognized that some traders may not have been aware that AEUR is a stablecoin, leading to increased demand and deviation from its expected price. By creating a compensation plan and halting trading for certain pairs, Binance aims to rectify the situation and provide support to those who purchased AEUR during the surge. However, users are also urged to be cautious of potential scammers posing as Anchored Coins and requesting personal wallet addresses.
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