Binance pays Chinese whale $0.26 'rebate' after $2 million loss

Following the massive crypto crash that wiped out over $18 billion dollars from the crypto market, Binance decided to compensate its customers, but not all of them are happy with their cut.

According to information shared on 15 October, one Binance user of Chinese origin who lost $2 million in the liquidation received just 0.26 USDT as compensation.

亏了2000多万，收到币安的2块的代币卷，你可别真大方啊，同舟你他妈的计划…. pic.twitter.com/eBZqSdf3Ay

— 6哥 ⁶⁶⁶ (喷鹏大帝） (@ChinaWhaleETH) October 14, 2025

News sparks outrage

After the flash crash which Binance itself has been accused of being complicit in orchestrating, co-founder and former CEO Changpeng Zhao (CZ) announced that the exchange and its partners were launching a compensation plan for victims worth millions of dollars.

Some people ask why is #BNB so strong?

While others tried to ignore, hide, shift blame, or attack competitors, the key @BNBChain ecosystem players (Binance, Venus, and more) took hundreds of millions out of their own pockets to PROTECT USERS.

Different value systems. 💪 https://t.co/zb0UIBfcBn

— CZ 🔶 BNB (@cz_binance) October 13, 2025

While this raised the hopes of the exchange’s customers, that hope has been dashed to pieces for some like this Chinese user.

The information has sparked outrage as X users say the act was not a compensation but rather an insult to the customer.

🚨BREAKING: A Chinese whale who lost over $2,000,000 in the Binance flash crash received 0.26 USDT in compensation.

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AN INSULT. MIGHT AS WELL HAVE RECIEVED NOTHING pic.twitter.com/qOqU2MKVH6

— CryptoChatter (@crypto_chatter1) October 15, 2025

A few days ago, some members of the crypto community had called for the complete destruction of Binance following allegations of massive market manipulation.

There have also been allegations that market manipulation is responsible for the explosive growth of BNB, the native token of the Binance ecosystem.

Others are smiling

While some Binance users like this Chinese investor are complaining, other Binance users are celebrating because they got better compensation.

One of such users who got 1.75 BNB praised the effort on X, and his tweet was reposted by CZ himself.

OMG it’s actually real! I just got 1.75 BNB from the airdrop. How can anyone hate on what CZ’s doing for the community? This has literally never been done before.
I degen hard on-chain, so it feels good to finally get something back. Big thanks to @cz_binance & @heyibinance pic.twitter.com/St24Qj4z6I

— KING 🔶️ (@KingOnEth) October 14, 2025

The question is, how many more other Binance users received such compensation for their losses?

In any case, the 1.75 BNB, worth about $2,100 is only 10% of the $2 million lost by the Chinese investor, which is still a far cry from a reasonable compensation.

Conversely, the amount may be a fair compensation for the other user depending on how much money they lost in the crash.

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