Chain.com tokens lose 96% of value in 24 hours due to flash crash before recovery
On Tuesday, tokens of cloud blockchain infrastructure provider Chain.com (XCN) suddenly lost over 90% of their value before recovering most of their losses later in the day. In a post-mortem analysis published by Chain.com, the firm said that a market maker and API error at 1:00 pm SGT (5:00 am UCT) began to cause XCN […]
Flash crash rattles gold markets as Bitcoin holds strong
Gold prices have tanked during the Monday morning Asian trading session, compounding losses accumulated over the past week. On August 9, the price of gold quickly fell to its lowest level since March as a flash crash drove prices below $1,700/oz. According to Tradingview, the price of the precious yellow metal plunged to $1,690/oz during […]
Kraken users demand refunds over flash-crash liquidations
Kraken users are demanding compensation after violent flash crashes localized to the exchange resulted in leveraged trades being liquidated amid the sharp retracements recorded across the crypto markets on Feb. 22. Feb. 22 saw the single largest daily candle in the history of both Bitcoin and Ethereum by linear value, with BTC dropping around $9,500 […]