Coinbase is to reimburse customer losses caused by the Ethereum flash crash

Ethereum {ETH} suffered a ‘flash crash’ a few days ago, dropping from $310 per coin to only 10 cents!  It subsequently rebounded back to the former level, but in the crash many stop losses and margins were hit, resulting in some investors being wiped out.

Coinbase, which runs the GDAX digital currency exchange has announced it will reimburse investor losses.




Earlier this week, GDAX, the digital currency exchange run by Coinbase, experienced a flash crash in its USD – Ethereum market.

Within seconds the price of ETH crashed from ~$320 to as low as $0.10. While the price recovered quickly, the rapid price movement caused many traders to experience margin calls or stop loss orders, resulting in potentially severe losses.



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