Kraken allow to buy bitcoin $8,000 & sell at $12,000

One of the world’s oldest exchange “Cryptocurrency exchange Kraken” apparently allowed certain customers to buy Bitcoin at $8,000 and sell it for $12,000.

Kraken allow to buy bitcoin $8,000 & sell at $12,000The exchange tweeting that “a bug encountered by testing of an unreleased advanced order type, which resulted in the prices of order that matched against the wrong side of the book.”

The exchange explained that as a result of the bug, orders had been executed on either side of the $8,000-$12,000 spread, without actually clearing the prime liquidity.

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Kraken state that stop orders were produce and correctly filled at market price. He has recommended that affected users get in contact by submitting their questions and support tickets here but did not stop users from criticizing the exchange.

 Jesse Powell, Kraken’s CEO said that “the tested feature had already seen thousands of automated and human tests over several months and you can’t find all the bugs all the time”

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According to CoinMarketCap,  Kraken is the 56th biggest crypto exchange by adjusted daily trading volume of $97.9 million,

Whale Alert, a tracking service reported that an anonymous wallet sent 260 million Stellar (XLM) worth over $15 million to Kraken.

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Notably, the glitch did not affect the broader market where Bitcoin was consilidation at $10,300. At the time of writing, BTC/USD is changing hands at $10,200, off the intraday low touched at $10,173. The coin is range-bound amid slow market activity.

Author: Ammara Khan

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