Backpack released an announcement on October 11 regarding the extreme market volatility, explaining that the incident was mainly caused by outages at multiple exchanges and a sudden halt in market maker liquidity, leading to a temporary deviation in BTC spot prices from the market average. During the extreme market conditions, the platform liquidated high-leverage positions in accordance with regulations, but the system remained stable with no socialized losses or fund recovery issues. To assist affected users, Backpack announced a compensation plan: spot-contract arbitrage accounts with leverage below 5x will receive 100% compensation, BTC lending accounts that were passively liquidated will be fully compensated, and 50% of liquidation fees will be refunded. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=50488