TechFlow News – On December 26, Binance issued an official announcement regarding the token swap from bZx Protocol Token (BZRX) to OokiDAO (OOKI), providing an update on the incident. Binance stated that it has completed its investigation into significant volatility affecting the OOKI/USDT and OOKI/BUSD spot trading pairs. Due to an operational error, users were unable to view the OOKI token swap in their spot wallets or sell their purchased OOKI tokens. This resulted in asset losses for affected users amid sharp market fluctuations, for which Binance expressed deep apologies.
Binance emphasized that it always values user feedback and community input. Upholding the principles of maximum user protection and transparency, Binance will compensate eligible users within 48 hours at a rate of 0.03 BUSD per OOKI (based on the closing price of the 12:10 candle when the incident ended) for their net OOKI purchase positions. Qualified users will receive corresponding BUSD vouchers as compensation by December 28, 2021, 23:59 (UTC+8).
