What Happens To Unconfirmed Bitcoin Transactions And How To Fix Them
Crypto exchange Bitstamp began to investigate the circumstances of the sale of bitcoins at an undervalued price, which led to the collapse of the exchange rate.
On May 17, at about 5:30 am Moscow time, several large orders for the sale of BTC at $ 6200 were processed on the platform. In less than half an hour, a series of transactions for 5 thousand bitcoins took place, and the volume of the largest was 3645 coins..
it had a strong impact on the order book and led to the liquidation of long positions in the amount of $ 250 million on the BitMEX exchange, which takes Bitstamp into account when calculating the value of an asset. A slump in two popular marketplaces has triggered the domino principle on other cryptocurrency platforms.
Bitstamp reported that no technical glitches were recorded during order processing, and all transactions were initiated by the client. However, due to the negative impact on the market, the company launched an internal investigation into the circumstances of the sale..
Traders were divided on this issue. Some believe that someone mistakenly set the cost of $ 6,200 instead of $ 8,200, while others are confident that the market was deliberately manipulated by the whales or the exchanges themselves..
text: Ivan Malichenko, photo: Shutterstock