Crypto Twitter Revives October 10, 2025 Allegations Against Binance; Exchange Denies Wrongdoing

Crypto Twitter has revived scam and market-manipulation claims against Binance and its co-founder Changpeng Zhao in January 2026, tying disruptions and mass liquidations from the October 10, 2025 market crash to alleged structural failures rather than a purely macro-driven sell-off.

Binance denies wrongdoing, pointing to system stability, internal reviews and more than $600 million in compensation and support. BeInCrypto reports that the October 10 move began after President Donald Trump announced tariffs and export controls targeting China, with Bitcoin falling about 10% and major altcoins plunging more than 15%.

CoinGlass tracked more than $19 billion in leveraged liquidations, and users reported frozen accounts, failed stop-loss orders, brief flash crashes and several assets — including USDe, wBETH and BNSOL — temporarily losing their pegs. Binance said core spot and futures matching engines and API trading remained operational, but acknowledged brief technical glitches after 21:18 UTC on October 10 and said it completed roughly $283 million in compensation within 24 hours.

On October 14 the exchange launched a $400 million support initiative — including $300 million in reimbursement vouchers and low-interest institutional loans — measures BeInCrypto describes as totaling more than $600 million. Other exchanges also reported disruptions, and some early public accusations were later withdrawn after technical data reviews.

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