ID:
kraken-611
100 pts
Platform:
Type:
Category:
Method:
Data Sources:
Exchange
Assets
Flash Loans
Extended Method:
Flash crash, suspected theft
Days in Operation:
0
100 pts each
On June 2, Bitcoin flash-crashed on a major Bitcoin trading platform Kraken. The near vertical drop from $11,200 CAD to $100 CAD within moments initially appeared to have resulted from a technical glitch or a fat-fingered trading error by a whale. In this case, the available evidence suggests a hacker compromised a whale’s account, stole 1200 BTC worth $10.45 million on that date, and then dumped this huge amount of BTC into a highly illiquid BTC/CAD market. Only 1155 BTC was filled at $100 each.
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