Kraken users bought Bitcoin for $8,000 and sold it for $12,000 because of the bug

Kraken Cryptocurrency Exchange has reported that a bug has appeared on its trading platform, which has led to the comparison of orders "from the wrong side of the glass". The incident occurred on the evening of September 13.

The bug has arisen as a result of testing the type of advanced order not yet presented at the exchange. "Some clients bought [bitcoin] from the tester at $8,000, while others sold at $12,000 without spending liquidity in the interval," the company explains.

Thus, the deals because of the bug were conducted only at the maximum and minimum prices in the range with users who had active orders at the specified levels.

Although candlesticks seem to have been used up between $8,000 and 12,000, the wicks on both sides are empty," adds Kraken. - Stop orders were launched in the range of $8,000 to 12,000. They were executed correctly according to the market rate".

The exchange also recommended that users involved in the incident contact it to find out what they have questions about it, later publicly saying that they will not roll back the deal and will take the resulting losses on themselves. At the same time, she could not avoid her criticism because of the execution of stop-orders.

"Yesterday's trade was in a fairly narrow range, so in the worst case people could unintentionally buy and sell on the market with a difference of less than 1%. If you think the exchange is wrong about something, please contact the support team," wrote Jesse Powell, CEO of Kraken.