Backpack has announced a compensation plan following a trading disruption on July 3 that affected 1,000 users. During the incident, 500 users profited while another 500 incurred losses due to a recharge jam and contract position confusion. The company has decided that users who profited can manage their assets independently, while those who suffered losses will receive full compensation. As of now, 410 compensation requests have been submitted, with 242 processed and $70,000 already disbursed. The total compensation is expected to reach $200,000. Additionally, Backpack will double the points compensation for all users who traded on that day. Backpack CEO Armani highlighted the exchange's unique architecture, describing it as a private, permissioned blockchain developed from scratch for enhanced performance and transparency, rather than relying on existing technologies.