Cryptocurrency Prices go Crazy on Coinbase and CoinMarketCap Due to Glitch
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The prices of cryptocurrencies listed on Coinbase and CoinMarketCap went haywire briefly on Tuesday night
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The glitch caused any tokens to show absurd gains with trillions of dollars being displayed in the wallets of some users
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The cryptocurrency companies confirmed the situation on Twitter, noting that it was a glitch that didn’t impact trade in any way
Popular cryptocurrency data providers Coinbase and CoinMarketCap suffered a glitch on Tuesday night.
The hitch caused the many tokens listed on the platform to show astronomical gains that turned many users into faux trillionaires.
At one point, the glitch pushed the value of a single unit of Bitcoin to $878 billion as many other tokens also displayed unreal prices.
While many users joked about their sudden wealth, others questioned both platforms about whether they had been hacked.
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Although both companies didn’t initially respond, they posted disclaimers on Twitter, clarifying that the prices weren’t real.
Coinbase posted:
“We’re aware some customers are seeing inflated values for non-tradable crypto assets on Coinbase.com and Coinbase Wallet. This is a display issue only and does not impact trading,”
CoinMarketCap on the other hand stated that the issue was being investigated but disclosed that it wasn’t a hack.
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