Tuesday, May 17, 2022

Unusual Bug Made Cryptocurrency Owners Millionaires For A Short Time

If you possess cryptocurrency, such as bitcoin, there’s a high possibility you’ve been keeping an eye on the cryptocurrency’s price as it rises and falls. In the cryptocurrency world, depending on when you entered the game, you may be sitting on a tidy sum of money. However, it appears that a bug on Coinbase and CoinMarketCap has resulted in all cryptocurrency owners on the platforms becoming instant billionaires.

For the most part, the error resulted in the displayed value of bitcoin increasing to $878 billion. And as a result, many bitcoin owners saw their accounts suddenly increase in value by the millions, billions. And also in some cases trillions of dollars. In addition to Bitcoin, other cryptocurrency such as Ethereum and Ripple have affected by this bug.

Unfortunately, this was clearly too good to be true. And many people had reached out to the platforms to inquire about it which was understandable. “We’re aware that some customers are experiencing inflated valuations for non-tradable crypto assets on Coinbase.com and Coinbase Wallet,” the business stated in a tweet. As previously said, this is a display issue solely and has no affect on trade.”

CoinMarketCap also stated that they are examining what caused the pricing issue. And also they do not believe they have hacked in the meanwhile. While this appears to have only affected those two sites. It’s likely that anyone trading bitcoin on other exchanges has unaffected by the incident.

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