Crypto Exchange bug: User wanted to sell $ 20 trillion worth Bitcoins

One month after Japan was the location of the biggest ever cyber hack, when over $400 million worth ot NEM coins was stolen from the Tokyo-based Coincheck exchange, overnight another major technical error at a rival Japanese cryptocurrency exchange led to further questions about the safety and security of crypto investments.

As a result of a “system glitch” at the Osaka-based Zaif cryptocurrency exchange, some customers were able to claim digital tokens for $0. The Asahi Shimbun  reports that glitch – which lasted for 18 minutes from 5:40 p.m. to 5:58 p.m. on Feb. 16 – affected Zaif’s price calculation system, enabling seven customers to buy cryptocurrencies for free, with one client “purchasing” Bitcoin valued at 2.2 quadrillion yen ($20 trillion) and then attempting to cash in on it.

Bug fixed after 18 minutes

So, crypto exchanges are not immune to technical infirmities. Unusual problem has recently hit Japanese trading platform Zaif . The price of Bitcoins was signposted for a short time on February 16th with zero Yen. Several users joined, one of them let it crash.

Giant sales order

For about 18 minutes “Free Bitcoins” have been offered, seven users wanted to use this for their own purposes. Administrators finally discovered the mistake and declared the purchases void. In six cases, according to the online newspaper Asahi Shimbun, they also worked without any problems. One customer, however, caused a lot of trouble.

He has commissioned a purchase of Bitcoins, which should have had an equivalent of $ 20 trillion at this time, in order to sell them again by post.

About two hours after the price bug, Zaif finally cleaned up the situation. Meanwhile, the sales order had certainly caused amazement at other dealers. Measurable consequences for the course of Bitcoin – currently this commutes slightly over $ 10,000.

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