Kraken, the world’s oldest crypto-currency exchange medium recently revealed that a bug allegedly allowed specific customers to purchase and then resell $8,000 worth Bitcoin for $12,000.
It was mentioned on Twitter that the bug was found in an “unreleased advanced order type”.
The bug caused the orders to automatically execute without having cleared the requisite liquidity. Stop orders were immediately activated and filled at market rate.
The victims of this incident were strongly advised to submit “support tickets” with their questions. Nevertheless, the exchange was vehemently condemned.
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Kraken’s CEO in response tweeted that he’s not sure how a “legitimate” trade takes place for pricing reasons or at least what boundaries it exists within.
The charts tell the story that a few over-fortunate traders quickly bought for a low price and sold for a fairly higher amount but the tweets tell another story.