edgeX Repays 50% of June Losses, Defers Remaining Claims to 2027

Key Facts

In a move aimed at restoring user confidence following a security breach, the edgeX exchange has begun addressing the fallout from its June incident. According to reports, the platform has paid out 50% of approved claims stemming from the June 2 event using the USDC stablecoin. The remaining half of the claims is scheduled to be settled using native EDGE tokens in April 2027, reflecting a strategy to defer financial liabilities over the long term.

This step comes as exchanges face mounting pressure to reimburse users, following similar industry incidents such as HTX's asset recovery efforts last year. Compared to other protocols, edgeX's reliance on its native EDGE token for future repayments shifts volatility risk to the affected parties, a tactic previously seen with Bitfinex after its 2016 hack. Per market data, stablecoins like USDC remain the preferred vehicle for claimants to ensure value stability during loss recovery.