CoinMarketCap glitch made everyone rich and millionaires…Details here
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Answer CoinMarketCap glitch made everyone rich and millionaires…Details here
Imagine yourself and before you go to sleep you think about your digital wallet that contains different digital currencies worth a few thousand dollars, and before closing your eyes you check it and wish it good night and when you find your balance has inflated into billions, will you continue to sleep 🙂
This is exactly what happened with some users who wanted to check the prices of their cryptocurrencies on CoinMarketCap, which is one of the best sites in its field in the field of tracking cryptocurrency prices. CoinMarketCap showed incorrect data as it offered that the price of one bitcoin today exceeded the $50,000 resistance, bringing its value to 799 Billion dollar.
While it showed that the price of Ethereum reached 43 billion dollars.Read:The launch of a new beta phase for Ethereum 2.0 … details here
One of the affected products was the Trust Wallet, which relies on CoinMarketCap for price data.
Although cryptocurrency and token balances appeared correctly in user balances, their dollar values were not.
Trust Wallet was not alone.
Even “Coin Piece” was affected and showed astronomical numbers.
CoinMarketCap has not responded or explained the cause of the malfunction, whether the site was hacked or just a technical error.
– Ashok Arora (ashokarorain) December 14, 2021
Although the data was incorrect, it may have contributed to a real halt in the recovery of the crypto market that was underway, as users scrambled to cash out before taking a closer look.
After the bitcoin dropped to $46,600 yesterday, today’s bitcoin price rose to just under $48,200.
In fact, prices were mostly flat over the past hours, when the error was discovered.
This is not the first time that cryptocurrency users have seen incorrect balances.
In May, crypto bank BlockFi offered 100 users bitcoins that didn’t belong to them, with one stating that they received 700 bitcoins, worth $34 million at today’s prices, or 500 cajillion if you’re looking at CoinMarketCap at the time of the glitch :).Read:Binance announces the IPO of Voxies and its digital currency VOXEL
Then BlockFi asked users to return the money and even threatened to take legal action against the people who had withdrawn their money.
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