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

Odaily Planet Daily News According to official news, Backpack issued an announcement regarding the "July 3 recharge jam and contract position confusion incident", 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 double the points compensation for all users who participated in the transaction on that day." In addition, Backpack CEO Armani posted: "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."