TechFlow news — On July 7, according to official announcements, Backpack released the outcome of the trading anomaly incident on July 3. The platform experienced deposit delays and disordered positions in certain contracts that day, but user assets were never affected.
Approximately 5,000 users participated in trading during the incident, with around 500 benefiting from abnormal positions and another 500 suffering losses. After rolling back the code, the platform decided that users who profited may retain their assets, while affected users will receive full compensation. So far, 410 compensation claims have been received, 242 of which have been processed with $70,000 disbursed. The total compensation is expected to amount to approximately $200,000.
CEO Armani explained that the issue stemmed from a deployment error causing inconsistent node states, though user funds remained secure throughout. The exchange has rolled back the code to restore system stability and will provide double reward points as compensation to all traders active on that day.
