Usually, traders and speculators in the cryptocurrency market take the opportunity on the trading platforms to buy the bottoms of the currency prices and sell the tops and the highs.

However, it appears that Kraken has broken this pattern due to a mistake that had a clear impact on trading operations.

The Kraken bug allows you to buy Bitcoin at cheap prices of up to $8000

Some sold Bitcoin on the platform for $12,000.

In the sense that the defect damaged the system of calculating the trading operations on the platform:

1/3 Yesterday, a test of an advanced order type not thrown encountered an error that resulted in ask prices matching the wrong side of the book. Some clients bought from the lab at $8000 and sold others for $12,000 without liquidating the intervening liquidity. pic.twitter.com/iG3sEPCVXS

Read:A change in the management of the BitMEX platform after accusations from the US government … Arthur Hayes is no longer CEO!

– Kraken Exchange September 14, 2019

It appears that Kraken is working on adding an advanced mechanism that affects the trading and investing of digital assets on the platform, which contributed to an error in the Bitcoin price level.

Although the mechanism has not yet been released, the flaw allowed traders to interact with this mechanism and it is not finished yet.

It culminated where some hacker traders managed to buy bitcoin for $8000 and sell it for $12,000 which is a great way to make high profits quickly.

Let the platform explain the matter, provide some transparency about what was wrong and make it clear that anyone affected by the mistake will be compensated.

A similar mistake from a platform the size of Kraken with a daily trading volume of $100 million or more is truly harmful.

Where it is better to allocate a separate server to test the new services and additions instead of trying them on the official platform.

The mistake made may fall into new platforms and amateurs, not global platforms.

Similar mistakes also make the supervisory and regulatory bodies tighten the screws even more on the trading platforms and demand and force them to act more professionally to protect the money of users and investors.

Read:Learn about the release date and time of the “EIP-1559” upgrade that aims to reduce the supply of Ethereum

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