Deribit has recorded a flash crash of the Bitcoin price

The Deribit Exchange recorded a BTC flash crash and compensates users with $ 1.3 million

Deribit’s new derivatives exchange launched a flash crash yesterday’s Bitcoin price. For several minutes, the price dropped from $ 9100 to $ 7,700 and processed numerous orders to this value.

Derivative a announced that it will cover the losses from its own funds, without resorting to the derivative insurance fund:

“Deribit will reimburse over $ 1.3 million in losses from the BTC index data release around 9:00 pm UTC as of October 31, 2019. Deribit Insurance Fund will not be used to cover these losses, but the compensation will be covered exchange. “

announced the company.

Coinbase Pro also recorded an incident

An hour before the Deribit incident, Coinbase Pro users also had problems. The stop-loss orders were “erased” just before the BTC dropped sharply from $ 9,260 to $ 9,055.

According to reports, some features of Coinbase Pro have stopped working suddenly. At the same time, some Bitcoin markets have started publishing very strange short-term chart patterns. On BitMEX and OkCoin exchanges, Bitcoin prediction graphs oscillated in an unusual pattern, rising and falling by tens of dollars per minute.

Some analysts have claimed that these are some algorithmic trading accounts that have generated errors due to Coinbase Pro’s technical difficulties.

The platform recovered after about an hour, but the price of Bitcoin fell by $ 200 yesterday.

Many analysts have argued that such problems show that the crypto market is highly vulnerable to manipulation, confirming the SEC’s position on the subject.

Binance is expanding to South Korea

Binance Company expands to South Korea through Binance Co. Ltd. It was registered in Korea on October 29, according to a report published by CoinDesk.

In April, Changpend Zhao said the exchange expects a “clear signal” from Korean regulators before entering the market. In June, Binance posted a job announcement for a compliance officer for this region.

Registered in Malta, Binance has local entities in Singapore, Jersey and Uganda, as well as a partner entity in the United States. The company also has plans to expand in Russia.

BitMEX’s Twitter account has been compromised

Following today’s incident with email notifications, BitMEX also suffered a Twitter account hack. Hackers were kind enough to announce that they took over and posted “Take your BTC and run. It’s the last day for withdrawals! ”.

BitMEX managed to recover their Twitter account quickly and assured their users that their funds are secure.

However, the image of the platform has been severely affected and there is a risk of sanctions. Leaking information about users’ email addresses is in violation of GDPR provisions in the European Union.

It remains to be seen what the consequences of disclosing the e-mail addresses of users on the platform will be.