This Coinbase glitch led to soaring cryptocurrency prices
Prices of crypto coins went wild on both Coinbase and CoinMarketCap.com, which monitors the value of coins.
- CoinMarketCap.com told Bloomberg that the issue was resolved.
Coinbase said on Twitter that the “display issue has been resolved.”
- “Non-tradable assets on http://Coinbase.com are no longer appearing inflated, and assets on Coinbase Wallet should reflect the correct market value. Again, this did not impact trading,” Coinbase said on Twitter.
- Soon after, Coinbase said it is still investigating the issue before confirming, again, that the issue had been resolved.
Some of the most popular coins — Ethereum, Tether, Binance Coin, Solana, Cardano, Polkadot and Dogecoin — all soared in value because of the glitch. Multiple reports suggested that the CoinMarketCap.com had been hacked, which led to the massive glitch of inflated prices, according to Hype Beast.
- “The price surge led many crypto users to believe that they had seemingly become billionaires and trillionaires overnight,” according to Hype Beast.