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The newly released stablecoin AEUR on Binance experienced an abnormal price surge, causing panic among investors. Following purchases at higher than expected prices, AEUR led to significant losses for many investors. Binance has announced it will cover these losses.
Investors were concerned about compensating for their losses due to purchases at abnormally high prices. Following negotiations with the perpetrators, Binance announced that the losses would be covered and that the difference would be refunded to investors by December 9.
Investors who incurred losses by purchasing at high prices need to check their reward centers and transfer their coupons to their spot wallets. It is important for users who traded AEUR pairs at specific times on December 5, 2023, to check their coupons.
Compensation will be provided with the support of the token team. Currently, the token has a low circulating supply of 5 million EURO and has experienced compensatable losses in the past period. However, in the future, investors may face uncompensatable losses in similar events.
Considering the possibility of similar problems recurring in 2024, investors need to learn from this incident. Trying to make a profit from stablecoins trading below or above expected value carries a significant risk and can lead to irreparable losses, as was the case with the UST incident.
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