An algorithm flaw on the Binance platform caused users in the US to see a false 87% drop in Bitcoin this Thursday morning to $ 8,200.
The transaction volume for that minute was 592.8 bitcoins, which is only $ 40 million at current price.
The Exchange immediately fixed the bug.
“One of our institutional partners explained to us that there is a bug in the algorithm. We are investigating what happened. The situation has been resolved, “says an email sent by Binance USA.
This is not the first time a crypto-asset platform has encountered this kind of error.
Earlier this month, DeFi’s platform, Synthetify, was forced to shut down for a while shortly after its debut due to a “bug” in the Pyth Network, a pricing channel maintained by some of the world’s most famous trading companies.
Pyth already made the same mistake in September, showing a 90% drop in bitcoin share.
Also a month ago, decentralized financial platform DeversiFi saw $ 24 million “slipped out of his hands” after that amount was paid in the form of a $ 100,000 transaction fee in Ethereum.
Later, the exchange managed to recover 7,626 Ethereum units using a miner.
