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Detail Analysis

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Date:

Status:

Count:

Contributor:

February 22, 2021

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Verified

2

zerofriction.io

Loss Amount:

-

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Recovered Amount:

-

Currency:

Dollars

KYC By:

Audit By:

None

None

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Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

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Key Indicators

Platform:

Type:

Category:

Method:

Exchange

Assets

Flash Loans

Extended Method:

Flash crash

Data Sources:

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Cryptocurrency exchange Kraken is offering refunds to traders hit with losses due to the dip in Ether (ETH)’s price. The sharp fall in the price of Ether occurred on February 22. The price of Ether on Kraken fell to $700, significantly below its low point on other major exchanges. Following the calls for compensation for the flash-crashes from users, Kraken has offered refunds to its customers, ranging in size from 5% to 50% of their losses. Kraken users are demanding compensation after violent flash crashes localized to the exchange resulted in leveraged trades being liquidated amid the sharp retracements recorded across the crypto markets on Feb. 22. Feb. 22 saw the single largest daily candle in the history of both Bitcoin and Ethereum by linear value, with BTC dropping around $9,500 from $57,500, while ETH plummeted by $400 from $1,940 within the span of 24 hours on Coinbase.

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.