An astonishing bug briefly turned all owners of Bitcoin and other cryptocurrencies into billionaires. For a brief moment, a popular site posted the price of BTC in excess of $ 700 billion!
CoinMarketCap, one of the most important aggregator sites for cryptocurrency quotes, has just been the victim of a serious bug. For a few minutes, the site posted completely wrong valuations. For example, the price of Bitcoin, the most valuable currency on the market, was displayed at over $ 778 billion. The price of Bitcoin is currently around 48,000 dollars after soaring beyond 65,000 dollars.
This is also the case for all digital currencies listed on CoinMarketCap. Ether, the second digital currency on the market, was displayed at over $ 9 billion while its course is currently stagnating around 4000 dollars. In the end, all the people who invested in digital currencies briefly found themselves at the head of an immense fortune. Only stablecoins, like Tether’s USDT or Circle’s USDT, escaped this massive bug.
Bug pushes cryptocurrency price to billions of dollars
CoinMarketCap quickly confirmed the existence of a default. “Following the anomalies observed on our platform this afternoon, and although the problem has been resolved, we will restart our servers as a final step in accordance with our internal remediation plan. Please excuse us for this inconvenience”, says the website. The platform later made fun of the incident on its Twitter account: “vsWhat did you do to be a trillionaire for a few hours? ”.
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Note that many services rely on CoinMarketCap and its API to display the price in real time. De facto, dozens of sites and services briefly displayed stratospheric valuations. This is particularly the case of Coinbase, one of the world’s leading cryptocurrency exchanges, CNBC, TrustWallet, a popular digital wallet, and Yahoo Finance. The latter instead posted declining values with a Bitcoin at $ 30,000.