Wrong. The market functioned EXACTLY as intended. A huge sell order was placed and that triggered all the STOP LOSS orders ALL THE WAY DOWN.
GDAX warns you every time you place a STOP LOSS order that it may sell at less than the STOP LOSS price. You were warned. You ignored the warning.
I guess GDAX is coddling those who got hurt because they want to keep you as customers. That's nice. It kind of indicates how much money they are making to be able to afford that!
Personally, I don't place conditional sell orders because everyone can see those and it gives the sharks and their algorithms the information they need to game the market, all perfectly legitimate.
I'm not talking about that drop that was corrected within minutes. I'm talking about the almost continues drop since short after that moment. It's dropping so long that it has to do with something else I believe.
And I don't think we can easily dismiss that the platform was brought down by a single DAPP.
Trust is key.